Frasers Group has lowered its shares in Currys, just over a year since it made its “strategic investment” into the electricals retailer.
The Mike Ashley-controlled group has dropped its holding in the business from 10.9% to just 2.8%.
It comes after Frasers snapped up a 9% stake in Currys in June last year, which at the time it labelled a “strategic investment”.
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It said its investment in Currys “provides us with a valuable opportunity to build on our foothold in the electricals industry as well as deepening the existing relationship between Currys and Studio, with the potential for further collaboration between the two”.
“Through this investment, we also believe Currys will benefit from Frasers’ deep retail know-how and our sector-leading ecosystem.”
In June, the Sports Direct owner was reported to be in talks with the electricals retailer about introducing its credit offer as a payment option.
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