Sports Direct International PLC (LON:SPD) has revealed an increase in its total holdings in department store chain Debenhams PLC (LON:DEB) to 29.7%, up from 23.07%.
In a statement, Liam Rowley, head of strategic investments for the FTSE 250-listed sports fashion retailer, said: "There are obvious synergies that can be achieved through the integration of our respective web operations. We also see opportunities to work together internationally."
He added: "Importantly, there is scope for greater collaboration in the UK in order to roll out an elevated offering to consumers. We believe Sports Direct can complement Debenhams very well across the spectrum." he added.
In late afternoon trading, Debenhams shares were up 3.4% at 28.78p, while Sport Direct shares were down 1.6% at 357.70p.