Mike Ashley's Frasers Group lifts stake in Boohoo again

(Sharecast News) - Mike Ashley's Frasers Group lifted its stake in Boohoo again on Friday, from 9.1% to 10.4%, having upped it from 7.8% a day earlier. The company - which owns House of Fraser, Sports Direct and Flannels, among others - now owns 132.2m shares in the fast-fashion retailer.

Frasers also owns stakes in AO World, Currys and Hugo Boss.

In an announcement in June, the company said: "Boohoo is an attractive proposition to us with its laser focus on young female consumers. We see potential synergies and an opportunity to strengthen our own brand proposition in collaboration with Boohoo, most obviously with Frasers Group brands I Saw It First and Missguided."

At 0935 BST, Boohoo shares were up 9.5% at 39.02p.