Frasers Group targets majority stake in Hugo Boss

Frasers Group, owned by billionaire Mike Ashley, has announced plans to increase its stake in the German fashion house Hugo Boss to more than 50%. Following a failed €2 billion takeover attempt in June, Frasers has steadily built its holding to approximately 47.89%.

In response to the potential takeover, Hugo Boss has suspended its recently launched share buyback program. Analysts suggest this move may be a tactical maneuver to prevent Frasers from increasing its ownership by reducing the total number of available shares.

Frasers is also reviewing its support for Hugo Boss Chairman Stephan Sturm. While Hugo Boss management previously rejected Frasers' takeover bid as financially inadequate, the British retail group intends to acquire the remaining voting rights through market purchases to achieve majority control.