Owned by British retail entrepreneur Mike Ashley, Frasers Group is reported to have raised its stake in Mulberry from 12.5% to 29.7%, just below the level at which it would have to make a takeover offer for the luxury goods retailer. The majority of the shares is said to have been acquired from Iceland’s Kaupthing bank, which retains a 7.2% stake in Mulberry.

Frasers, formerly known as Sports Direct, was founded by Ashley, as a sports shop in 1982. He acquired the 12.5% stake in Mulberry in February this year. Sources: The Sunday Times/Retail Gazette