Sports Direct Raises Debenham Stake To Over 16%

Sports Direct has raised its interest in the Debenhams banner to 16.09%, from 13.38% earlier, through a combination of share options and contracts for differences. Sports Director does not have a direct stake in the department store banner, but has the right to buy shares at a later date.

The Mike Ashley-owned chain had snapped up the initial stake in February, following the sale of a 9% stake by fund manager Schroders.  Ashley has previously bought significant stakes in other rival retailers, including JD Sports, House of Fraser, and French Connection.