The Office of Fair Trading (OFT) has ruled that Sports Direct’s shares in Blacks Leisure did not create any competition issues.
The OFT had been considering whether a merger situation has been created as a result of Sports Direct owning the 29% stake. Sports Direct also owns outdoor retailer Field and Trek.
In March Sports Direct made a bid for Blacks but pulled out over concerns some suppliers would not work with Blacks under Ashley’s ownership.
Last month Blacks completed a £20m fundraising that Ashley had previously tried to block. His stake has now been diluted to 14.5% as Ashley did not take up any new shares.