Frasers Raises Asos Stake to 25.13%, Fuels Takeover Speculation

Frasers Group has increased its stake in ASOS to 25.13%, solidifying its position as the second-largest shareholder behind Bestseller's Anders Holch Povlsen, who now owns 28%. This heightened ownership by Povlsen approaches the 30% threshold which would necessitate a mandatory takeover offer under UK acquisition rules. The ongoing investments by both shareholders have sparked speculation about potential takeover scenarios, especially given ASOS's recent positive profit forecasts, including expected improvements in profitability and sales. ASOS is also undertaking organizational changes to enhance its customer engagement and growth strategies. The online retailer is set to release its financial results for the first half of fiscal year 2025 on April 24, amid these significant shareholder developments.