Frasers Group lifts stakes in AO World, Currys

26th Jun 2023 12:20

(Sharecast News) - Mike Ashley's Frasers Group has increased its stake in electrical retailer AO World for a third time to more than 22% and also lifted its stake in rival Currys, according to stock exchange filings on Monday,

The company, which owns Sports Direct and House of Fraser, among other chains, earlier this month spent

£75m on just under 19% of AO. The shares had been held by scandal-hit hedge fund Odey Asset Management.

A few days later, Frasers Group increased its holdings to just over 21%. The latest move consolidates its position as AO's largest shareholder, ahead of Camelot Capital Partners which holds 20.4%.

The stake in Curry's was lifted to 9.83% from a previous 8.9%.

Reporting by Frank Prenesti for Sharecast.com