August 30, 2014

Sports Direct founder buys into House of Fraser

The founder of Sports Direct has acquired an 11pc stake in House of Fraser in a deal worth approximately £50m. It is currently unclear as to whether Mike Ashley purchased the stake personally or via Sports Direct.

Mike Ashley has had a long-term interest in House of Fraser, having been linked to purchasing the retailer previously.

Ashley’s purchase comes following an 89pc acquisition of House of Fraser by China’s Sanpower Group.

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