Sports Direct’s largest minority shareholder has increased its stake in the controversial company, highlighting the shift in its investor base towards those who back Mike Ashley, its maverick founder and chief executive. Phoenix now owns more than 7 per cent of the company. It declined to comment on its latest purchase but has in the past described Mr Ashley as the most talented retailer of his generation.
Sports Direct’s largest minority shareholder has increased its stake in the controversial company, highlighting the shift in its investor base towards those who back Mike Ashley, its maverick founder and chief executive. Phoenix now owns more than 7 per cent of the company. It declined to comment on its latest purchase but has in the past described Mr Ashley as the most talented retailer of his generation.
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