Mike Ashley's Frasers Group has moved closer to buying up Australian flash sales site MySale, by upping its stake into the retailer to almost 50% in the past week.
The Sports Direct group, which also owns House of Fraser among a raft of retail brands, said it had bought 100 million MySale shares from investment business Jackson Family Capital, and a further 62.1 million from former vice-chairman and founder of the retailer Jamie Jackson.
Frasers has offered 2p for each MySale share, but the bid was rejected for being too low.
Mr Ashley is to step aside from the Frasers board later this month but remains as controlling shareholder.
Mobile phone giants Vodafone and Three in UK merger talks
MOBILE phone giants Vodafone and Three are holding talks over a merger of their UK operations in a move to help them compete with rivals in the roll-out of 5G.
However, analysts have warned the potential deal could raise competition concerns.
Edinburgh beer giant upbeat after a challenging year
INNIS & Gunn has declared it is “witnessing post-Covid recovery” after challenges presented by coronavirus restrictions and global supply-chain issues resulted in a marginal fall in revenue last year.
The Edinburgh-based brewer and bar firm reported a one per cent fall in turnover to £21.1 million in the year ended December 31 as the company was impacted by the Omicron outbreak and delayed year-end shipments.
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