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Sports Direct ups stake in Debenhams

Sports Direct has upped its stake in department store chain Debenhams to 21.04% and has converted 10% of his stake to shares for the first time. 

The move marks the latest in a string of moves to increase its holding in the retailer. In June, Sports Direct increased its stake to 19.1%.

The retail giant first took a stake in Debenhams in 2014, sparking speculation regarding owner Mike Ashley’s interest in taking over the high street department store.

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