Apr 2, 2017

Sports Direct increases Debenhams stake to 16%

Regulatory filings show Sports Direct has now upped its interest in Debenhams stock from 13.38% to 16.09%. But instead of buying Debenhams shares outright, the sports firm instead holds "Options in stock", which gives it a right to buy shares at a future date. It also holds "Contracts for differences", a form of financial bet on the future Debenhams share price. Sports Direct first revealed an interest in Debenhams more than three years ago. Sports Direct has 420 UK stores and owns several brands including Dunlop, Slazenger, Everlast and Karrimor. Debenhams has 240 stores in 27 countries and reports its half-year results on 20 April.

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