Sports Direct International has sold its share in Australian etailer MySale Group.
It is not known what Mike Ashley’s group sold its 4.8% stake for, but MySale shares closed yesterday (20 April) at 7p.
This is a huge drop on the share price of 229p in June 2014, when the British sports retailer is reported to have bought the MySale stake. This would have valued Sports Direct’s shareholding at around £15m at the time.
A Sports Direct company filing stated “an acquisition or disposal of financial instruments” was reason for the decision to sell.