Frasers (FRAS) has paid £75mn to acquire an 18.9 per cent stake in online electricals retailer AO World (AO.), with the retail giant potentially taking advantage of ailing hedge fund Odey Asset Management's fire sale post-close on Friday.
The Sports Direct owner bought 109.4mn AO World shares at 68p, a significant discount to the share price highs seen at the online retailer during the pandemic. AO World’s shares sat above 400p in early 2021 but have since cratered.