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New Look owner hit by fall in the pound

South African retailer Christo Wiese, who’s investment vechile Brait owns New Look, has seen his investments drop by £400m due to the devaluation of the pound.

Shares in Brait have dropped by almost 40% since the EU referendum, The Daily Mail reported.

Wiese, who is worth an estimated £4.8bn, also owns Poundland and Virgin Active.

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