LONDON (Reuters) – British sportswear and fashion retailer Frasers has acquired an 8.9% stake in electricals retailer Currys, regulatory filings showed on Monday, a week after it forged a strategic partnership with its online rival AO World.
Last Monday, Frasers, formerly called Sports Direct and majority owned by Mike Ashley, disclosed an 18.9% stake in AO and said the partnership deal would allow it to benefit from AO’s know-how in electricals and delivery.
Later in the week Frasers increased its AO holding to 21.3%, becoming its biggest shareholder.
Frasers has a long history of making strategic investments to develop relationships and partnerships with other retailers, suppliers and brands.
A spokesperson for Currys declined to comment, while a spokesperson for Frasers was not immediately available for comment.
(Reporting by James Davey; Editing by Susan Fenton)
