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Sports Direct ups stake in Findel

Sports Direct has offered to buy Findel for £139m.

The retailer has agreed to buy 6 million shares in home-shopping company Findel for 161p per share.

Sports Direct said it expects the acquisition of the shares to settle on 6 March. It will take Sports Direct’s holding to 36.8% of the business, which will require it to make a mandatory cash offer for the stock that it does not already own at a price of 161p.

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