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Laura Ashley ups stake in Moss Bros

Laura Ashley has raised its stake in menswear retailer Moss Bros to 4.44%.

The retailer said that its unit, Bagleys Investments, had bought an additional 840,000 shares in Moss Bros at 45p each yesterday. This equates to a total holding of 4.19 million shares.

Moss Bros is the subject of a potential takeover bid from a consortium led by Baugur. In December the icelandic investment group, which already holds around 29% of the retailer, confirmed it was assessing its options which could include bidding for the business.

However Baugur is expected to wait to see the outcome of Christmas trading before making a move.

Laura Ashley has held a small shareholding in Moss Bros for several years. However it has increased its stake on a number of occasions in recent months.

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