**Frasers Group Acquires Significant Stake in ASOS**
London – Frasers Group, the British retail conglomerate led by Mike Ashley, has significantly increased its stake in online fashion retailer ASOS to nearly 20%. The move has raised speculation about a potential takeover bid, although Frasers Group has denied any such plans.
According to a regulatory filing on Monday, Frasers Group now owns 19.8% of ASOS shares, up from 14.3% previously. The acquisition makes Frasers Group the second-largest shareholder in ASOS, behind only T. Rowe Price Associates, which holds a 10.2% stake.
**Speculation Surrounding Takeover**
The news of Frasers Group’s increased stake in ASOS has sparked speculation that Ashley may be planning a takeover bid for the company. Frasers Group has a history of acquiring struggling retailers, such as House of Fraser and Evans Cycles, and turning them around. However, Frasers Group has denied any intention to make an offer for ASOS.
In a statement, Frasers Group said, .
