Mike Ashley is set to play a key role in the bidding war for Currys after buying shares in the electricals retailer through his Frasers Group last year.
Frasers has around 11% of the shareholding in the electricals retailer, meaning any bidders for Currys will have to win Ashley over if they are to secure investors’ approval for a formal bid.
Hedge fund Redwheel will also be vital to win over as the biggest shareholder in Currys, with a 15% take. Redwheel has already said Eliott Advisors’ £680m offer undervalues the business.
Any potential takeover could be scuppered if more than 25% of shareholders oppose it.
