Mike Ashley's Frasers raises Boohoo stake to 16.5%
A woman poses with a smartphone showing the Boohoo app in front of the Boohoo logo on display in this illustration taken September 30, 2020. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing Rights
LONDON, Oct 25 (Reuters) - Frasers (FRAS.L) , the British sportswear group controlled by Mike Ashley, has raised its stake in online fashion retailer Boohoo (BOOH.L) to 16.5%, according to a regulatory filing published on Wednesday.
The group previously held 15.12%.
Frasers, formerly called Sports Direct, said in June its purchase of Boohoo shares was consistent with its strategy of building "supportive" positions in "attractive" companies.
Earlier this month Boohoo reported a first half loss and downgraded its full year revenue outlook. Its shares are down 14% so far this year.
Frasers has also built a 23% stake in Boohoo's UK rival ASOS (ASOS.L) .
On Tuesday, ASOS postponed Wednesday's planned publication of its annual results until Nov. 1, saying its auditor PwC needed more time. ASOS shares are down 23% this year.
Reporting by James Davey; editing by William James
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