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Mike Ashley’s Frasers Group Takes 4.2% Stake in Burberry
['Evan Clark']
WWD
Busy Bee: Mike Ashley’s Frasers Group is all over lately.
Frasers, which made a surprise takeover bid for Hugo Boss last month, said in a regulatory filing that it had amassed put options on 15 million shares of Burberry Group, giving it a 4.2 percent stake in the company.
Burberry has lately been showing some signs of a rebound, although investors have been slow to give the company credit.
Chief executive officer Josh Schulman said he was pleased with the progress “and the momentum we are building with Burberry Forward.”
But now there’s a new fashion front for Frasers, which seems to be always be on the move.