Frasers Group ups stake in Asos as takeover speculation swirls

Asos label lying on top of a floral patterned garment

Tycoon Mike Ashley’s Frasers Group has increased its stake in fashion pureplay Asos, which has been at the centre of takeover talk.

A purchase of shares yesterday took Frasers’ holding in Asos to almost 10%, compared with 7.4% at the start of the week.

The stakebuilding followed a report at the weekend that Alibaba-backed Turkish etailer Trendyol had approached Asos late last year about a possible £1bn takeover.

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