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Sports Direct raises stake in Debenhams

Mike Ashley’s Sports Direct has upped its stake in department store Debenhams.

Sports Direct increased its holding in Debenhams stock to 16.09% from 13.38% on Friday by buying share options in the retailer.

Last month, Four Marketing, the agency in which Sports Direct has a 25% stake, bought lingerie chain Agent Provocateur through a pre-pack administration deal.

Four Marketing parent company Four Holdings is thought to have paid around £27.5m for the business.

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