Frasers now owns a near-20% stake in ASOS

Frasers Group has once again upped its shareholding in ASOS and now holds close to 20% of the online young fashion giant's shares.

The House of Fraser to Sports Direct group revealed today that it had increased its shareholding to 19.3% after series of share purchases.

Frasers first revealed that it had amassed a 5% stake in ASOS last autumn and has been gradually snapping up shares since. Prior to today's announcement, its most recent share purchase was made on 7 August and took its stake to 17%.

The mandatory takeover offer threshold for listed businesses is 30%, but it is not known whether this is Frasers' end game. The group often takes what it calls "strategic stakes" in fashion businesses.

Frasers currently holds holds shares in Mulberry and Hugo Boss, as well as ASOS rival Boohoo in which it now holds a near 8% stake. In the past Frasers has held significant stakes in both French Connection and the former department store chain Debenhams, which now comes under the Boohoo Group which reinvented it as an online entity having acquired it out of liquidation.

Frasers Group is now the second largest shareholder in ASOS after Danish billionaire and owner of the Bestseller group Anders Holch Povlsen, who holds a 20% stake. Camelot Capital Partners holds around 14% of its shares, having itself upped its stake from 13% in recent days.

Speculation arose earlier this year that ASOS could be targeted by a takeover bid from Turkish online fashion giant Trendyol, which is backed by China's Alibaba, but it is understood that no active talks are underway.

Anders Holch Povlsen is reported to be keen for ASOS to remain as a listed entity.