Member Article

Developments in Mike Ashley’s Debenhams stake

Newcastle United owner Mike Ashley’s Sports Direct brand has sold its 4.6% stake in Debenhams just days after buying the shares, but now plans to increase its stake to 6.6%.

A note to investors showed Ashley intends to acquire 81,224,081 ordinary shares in Debenhams via a ‘put option’.

A statement read: “As announced previously, Sports Direct wishes to explore options at an operational level to work together with Debenhams and is looking forward to meeting with Debenhams’ senior management team in the near future.

“Sports Direct reiterates its intention to be a supportive stakeholder and create value in the interests of both Sports Direct’s and Debenhams’ shareholders.”

This was posted in Bdaily's Members' News section by Tom Keighley .