Frasers Group, the owner of Sports Direct, has picked up more shares in troubled online retailer, Asos.
The online fashion chain told the City that Frasers now owns 9.86% of Asos stock, up from 8.8%. On Tuesday, it revealed Frasers had bumped its holding up from 7.4%.
Asos is seen as a possible takeover target and reports at the weekend linked it to an approach from Turkey's Trendyol, backed by Chinese e-commerce giant Alibaba.
José Antonio Ramos Calamonte, who took over as chief executive last summer, is trying to reinvigorate the firm, which revealed a £291mln loss in the six months to 28 February after sales fell by 8%.
Last month, Asos went to the market to raise £80mln via a placing and retail offer and renegotiated a £275mln credit line.
Reports have also suggested suppliers have been winding back business with the company as credit insurers withdrew cover.
Asos shares were 0.6% higher at 350p. They are down 34% year to date.
A 10% stake would give Frasers the power to block a statutory compulsory share purchase after any takeover offer.