Frasers Group has increased its stake in AO World to more than 22.2 per cent making it the largest shareholder. Camelot Capital Partners holds 20.4 per cent of the online electricals business.
Frasers Group had issued a statement saying; “Driving growth strategic investments is a core part of Frasers’ DNA. Under Michael Murray’s leadership, we continue to build on our long track record of establishing supportive shareholder positions in attractive retail companies. We have a clear strategy to identify opportunities to invest in businesses which complement our existing sport, premium and luxury businesses, or help us to build and further utilise our sector-leading ecosystem.”
There is considerable cynicism emanating from the financial press about Mike Ashley’s newly announced formal unpaid consultancy arrangement with Frasers Group. Some are suggesting that Ashley’s influence may go beyond that of any independent consultant and that many of Frasers Group’s most recent investment manoeuvres are typical of Ashley.
Mike Ashley stepped down as director of Frasers Group last year following the appointment of Michael Murray as chief executive.
Share