Britain's Frasers Group boosts stake in electrical retailer AO World (updated)
25/03/2025 14:45
Adds details in paragraphs 2-5 March 25 (Reuters) - British sportswear and fashion group Frasers FRAS.L raised its stake in online electrical retailer AO World AO.L to 25%, a regulatory filing showed on Tuesday. Frasers Group, which is majority owned by billionaire Mike Ashley, previously held a 24% stake in the company. Frasers has been ramping up its investments in global retailers. It picked up another 25% stake in fashion retailer ASOS ASOS.L and is working on a mandatory bid for Norwegian sporting goods retailer XXL ASA XXL.OL. Under UK acquisition rules, an investor with a stake of 30% or more has to make a mandatory offer to the shareholders of the company. (Reporting by Yamini Kalia in Bengaluru; Editing by Anil D'Silva) ((Yamini.Kalia@thomsonreuters.com))
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