Is Mike Ashley's retail empire planning to take over Boohoo?
manchestereveningnews.co.ukMike Ashley's retail empire has become the largest single shareholder in Manchester-headquartered fashion giant Boohoo. Frasers Group, whose brands include the likes of Sports Direct, House of Fraser and Jack Wills, now has more shares in the listed company than co-founder Mahumd Kamani.
New filings with the London Stock Exchange show that the group has a holding of 13.4 per cent, up from 10.4 per cent.. Mr Kamani, who set up Boohoo alongside Carol Kane in 2006, has a 12.5 per cent stake in the business.
Frasers Group first invested in Boohoo earlier this year and has been steadily increasing its stake ever since. READ MORE: Click here to sign up to the BusinessLive North West newsletter READ MORE: Inside the iconic Rylands building as former Debenhams store prepares for transformation Other major shareholders in Boohoo include Norges Bank, Camelot Capital Partners, Ocorain and Jupiter Asset Management.
The group has been a public company since floating on the London Stock Exchange in March 2014. The latest move from Frasers Group comes after Boohoo's shares dropped to their lowest value since the summer of 2015 after the publication of its half-year results.
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