Tycoon Mike Ashley’s Frasers Group is thought to have tabled an offer for Footasylum, which JD Sports has been ordered to sell by the competition authorities.
Frasers has informed the Competition and Markets Authority of its intention to make an offer, the Sunday Times reported.
The Competition and Markets Authority (CMA) told JD Sports in November that it would have to unload Footasylum, and the regulator must have its stamp of approval to any new owner.
A Frasers Group offer for Footasylum would be the latest twist in the longstanding rivalry between JD Sports and Ashley, whose Frasers Group includes Sports Direct. The two have often competed for the best product from sporting goods giants such as Nike, and Frasers has been moving away from its former value positioning through its ‘elevation’ strategy, including upmarket brand Flannels as well as House of Fraser department stores.
JD boss Peter Cowgill has previously appeared to suggest that his rival had influenced the CMA’s decision. He said last year: “Incredibly, the CMA has been taken in by the self-serving testimony of one notoriously vocal competitor, who has made numerous public announcements.” He maintained that the competitor had “blatantly participated in the process for their own commercial interests rather than for the benefit of consumers”.
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