Mike Ashley’s Sports Direct has acquired an additional 4.6% stake in Debenhams for £33m.
The sportswear retailer, which has already agreed concessions in four Debenhams stores, now has an 11.2% interest in the department store chain, after it acquired a put option on a 6.6% stake for £64m in January.
Earlier that same month, Sports Direct bought a 5% stake in Debenhams for £50m, only to sell it days later for a £5m profit.
The retailer did not comment on rumours that it may seek to purchase Debenhams outright. In a statement published on its website last night, it said: “As previously announced, Sports Direct is already working together with Debenhams and looks forward to building this relationship.”
Last week, Sports Direct entered into a put option agreement covering 23 million shares in Tesco, the equivalent of a 0.3% stake.