Mike Ashley’s Frasers Group sells stake in French Connection

Mike Ashley's Frasers Group last week sold its 25 per cent stake in French Connection, jumping aboard a share price rally sparked by rumours of a potential takeover. French Connection was on Friday forced to announce that it had been approached by two separate teams of investors after an unusual jump in shares the day before. A corporate filing on Monday afternoon revealed the new French Connection shareholder to be Apinder Singh Ghura, a man not widely known in the City. Frasers did not respond to several requests for comment, while French Connection declined to comment. French Connection's share price was on Monday evening down nearly 3 per cent at 25p, still more than double its level last Thursday.

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