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Conservative government nets Mike Ashley £95m

Mike Ashley, the billionaire owner of Sports Direct, could pocket an additional £95m as a result of the General Election outcome.

Shares in the sportswear retailer climbed 4.5% following the news that the Conservatives had won a majority in the 2015 polls, according to the Independent.

A Labour government would have spelled bad news for Ashley as the now resigned leader Ed Miliband promised to ban zero-hours contracts.

Around 15,000 of Sports Direct’s 23,000 staff (75%) are employed on the controversial terms.

Sports Direct chairman Keith Hellawell was forced to reveal the figures in front of a Scottish Affairs Committee hearing, as part of an ongoing investigation into the collapse of USC .

The share price is also linked to the sale of the company’s head office in London’s West End for £44m last week.

@LukeToddUK

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