Mike Ashley’s Frasers Group raises AO World stake

Frasers Group has raised its stake in online electricals retailer AO World to 25.01%, up from 24.02%, according to a recent regulatory filing.

This move strengthens the Sports Direct owner’s position as the second-largest shareholder in the business, following the retailer’s recent positive trading update.

This week AO World raised its full-year profit forecast, with adjusted pre-tax profits expected to be between £39m and £44m for the year ending March 31, 2025.

Fraser’s growing interest in AO World adds to its expanding portfolio, which also includes major stakes in Asos, Hugo Boss, Currys and N Brown.

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Just days ago, Frasers raised its stake in Asos to 25.13% from 24.21%, strengthening its position as the second-largest shareholder in the online fashion retailer.

The move follows an increase by Asos’ largest shareholder, Danish billionaire Anders Holch Povlsen’s Bestseller, which upped its stake to 28% last week.

The shareholder activity has added fuel to takeover speculation surrounding the online fashion giant, particularly with Povlsen now just 2% away from the 30% threshold that would require a mandatory offer for the company under UK acquisition rules.

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