Frasers raises Asos stake amid takeover speculation

Frasers Group has raised its stake in Asos to 25.13% from 24.21%, strengthening its position as the second-largest shareholder in the online fashion retailer.
The move follows an increase by Asos’ largest shareholder, Danish billionaire Anders Holch Povlsen’s Bestseller, which upped its stake to 28% last week.
The shareholder activity has added fuel to takeover speculation surrounding the online fashion giant, particularly with Povlsen now just 2% away from the 30% threshold that wou