Mike Ashley’s Sports Direct looking for a retail hookup with Mysale

Retail giants Mike Ashley and Sir Philip Green are set to team up after Ashley’s Sports Direct swooped for a 4.8 per cent stake in Australian fashion website MySale, in which Green holds a 25 per cent stake. Sports Direct said the move could help it boost its presence in Australasia and Asia, where MySale is stronger. Ashley, who still controls more than 60 per cent of Sports Direct’s shares, made the move following MySale’s
mis-pricing on Monday, which knocked the its shares 25 per cent.

Related articles