Boohoo Group PLC (AIM:BOO) shares rose on news that Mike Ashley’s Frasers Group PLC (LSE:FRAS) has increased its stake in the online fashion retailer again, as the retail tycoon’s asset-buying spree continues.
In a stock exchange filing, Frasers said it has raised its stake in the company from 10.4% to 13.4%.
In September, Frasers said it has raised its holding to 9.1%.
It continues Frasers’ acquisition spree which has seen it pick up stakes in electricals giant Curry’s, its online counterpart AO World and Boohoo’s rival ASOS.
This adds to other investments in German fashion designer Hugo Boss, Manchester-based clothing label N Brown, luxury handbag brand Mulberry and even a sliver of Next.
Boohoo shares rose 2.3% to 30.69p on the news while Frasers was up 1.8% at 819.78p.