British retail group Frasers Group has increased its stake in online fashion retailer Asos to 19.87%, making it the company’s largest shareholder..
The move comes after Frasers, which is owned by Mike Ashley, acquired a 5.1% stake in Asos in April. The group has since been gradually increasing its holding, and now owns a total of 123.6 million shares in the company..
Asos’s share price has fallen sharply in recent months, amid concerns about the impact of the cost-of-living crisis on consumer spending. The company’s shares are currently trading at around 1,120 pence, down from a peak of 8,264 pence in February 2021..
Fraser’s increased stake in Asos has led to speculation that the group could be planning a takeover bid. However, Frasers has said that it has no intention of making an offer for Asos at this time..
In a statement, Frasers said: .
