Mike Ashley’s Frasers Group increases stake in Boohoo by £13m

Billionaire’s firm now holds over £30 million in shares in the fast fashion giant

Mike Ashley: Frasers Group is the name of the operation through which Ashley controls the House of Fraser department store chain and his Sports Direct brand. Picture: Getty

Mike Ashley’s Frasers Group has pushed its stake in Boohoo, the online fashion company run by Offaly man John Lyttle, to 6.7 per cent, new stock exchange filings show.

The Fraser Group bought an initial stake in the company in June for £22 million (€25.6 million), and has since added to this with a further £13 million (€15.1 million) worth of shares.

Its current stake in the company is now worth slightly more than £30 ...