Frasers levels up stakes in ASOS and Boohoo yet again
Frasers Group is continuing to fuel rumours of an ASOS and Boohoo mega-merger. Today the company announced it has upped its stakes in both retailers.
The Michael Murray-led group has consistently made headlines throughout the year, whether it be for snapping up shares in Boohoo and ASOS or swooping in to 'rescue' failing businesses.
Last year, Frasers Group, now run by Michael Murray, enlisted Mike Ashley as a 'consultant'. This added fuel to speculations that Frasers Group had brought in its ex-boss to guide a potential online mega-merger with ASOS and Boohoo in 2024.
Yesterday, Frasers upped its ownership of ASOS for the third time this month to 25.9%. It’s now the second-largest shareholder in ASOS and is close to the largest (Bestseller owner Anders Holch Povlsen reportedly holds around 26%).
The company first took a stake in the under-pressure retailer in autumn 2022 when it acquired a 5% holding.
Frasers has also levelled up its Boohoo shares from 17% to 22%. The group first purchased a 5% stake in the fashion giant last June.
Despite Frasers Group's focus on snapping up Boohoo and ASOS shares, it hasn't neglected its ongoing mission to dominate Britain's high street. Just last month, the company confirmed its acquisition of Zee & Co – a small chain store with locations in Essex and London.
