Frasers Group sold its near-25% stake in French Connection shortly before it emerged the retailer was being targeted for a takeover.
Stock market filings yesterday showed that Frasers, French Connection’s second largest shareholder, offloaded its 24.93% holding on Thursday.
French Connection issued a stock market statement on Friday saying that it had received separate approaches from Spotlight Brands, in conjunction with Gordon Brothers, and Go Global Retail alongside HMJ International Services.
There has been speculation that Frasers sold its stock to one of the bidders at a premium.
