Retailer Frasers Group (LON: FRAS) has taken a 5.1% stake in online fashion retailer ASOS (LON: ASC), which moved from AIM to the Main Market earlier this year. It appears to have spotted value in ASOS.
This perked up the ASOS share price which was 1.5% higher at 517.5p, although it is still 78% down on the year. ASOS is capitalised at £525m, which is less than 10% of its peak. Frasers is capitalised at £3bn.
Frasers has bought other online fashion retailers Missguided and I Saw It First....
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