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Evening Standard

Business

Mark Banham

Frasers prepares ground for takeover of Australian retailer MySale

Frasers Missguided Sports Direct Frasers Group

MySale rejected a takeover bid from Frasers Group only last month
(Picture: MySale)

Frasers Group owner of Sports Direct and Missguided has edged ever closer to a takeover of Australian flash sales site MySale taking its stake in the retailer to nearly 50% in the past week.

The high street giant, that also owns the House of Fraser department store chain and Jack Wills, said that since September 26 it had acquired 100,000,000 MySale shares from investment business Jackson Family Capital and bought 62,145,385 MySale shares from former vice-chairman and founder of the retailer Jamie Jackson.

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