**London -** British retail group Frasers Group, which acquired a 5.1% stake in Asos in April, has increased its shareholding in the online fashion retailer to 19.3%..
The group, controlled by Mike Ashley, acquired a further 11.1 million shares in Asos for £27.2 million ($36.8 million) on Tuesday, according to a regulatory filing. This brings Frasers Group’s total stake in Asos to 19.3%, making it the company’s largest shareholder..
Frasers Group has been gradually increasing its stake in Asos over the past few months. In June, the group acquired a 3.2% stake in Asos for £6.4 million. In September, it increased its stake to 5.1%..
The group’s interest in Asos is part of its strategy to build a portfolio of digital retail businesses. Frasers Group already owns Sports Direct, House of Fraser, Flannels, and Evans Cycles..
Asos’s shares have fallen by more than 80% in the past year, as the company has struggled with supply chain disruptions, rising costs, and a slowdown in consumer spending. However, the company’s shares rose by 5% on Tuesday following news of Frasers Group’s increased stake..
Analysts said that Frasers Group’s move to increase its stake in Asos could be a sign that it is planning to make a takeover offer for the company. However, Frasers Group has not made any public statements about its intentions..
Asos is a global online fashion retailer that sells clothing, footwear, accessories, and beauty products. The company was founded in 2000 and is headquartered in London. Asos has over 20 million active customers in 200 countries and territories..
Frasers Group is a British retail group that owns a portfolio of sports, fashion, and homeware brands. The group was founded in 1982 and is headquartered in Shirebrook, Derbyshire. Frasers Group has over 1,000 stores in the UK and Ireland and employs over 20,000 people..
