Sports Direct increases Debenhams stake to 16% – BBC News

Image copyright Getty Images Image caption Play Direct was founded by Mike Ashley

Mike Ashley’s Sports Direct has raised its stake in High Street department store chain Debenhams.

Regulatory filings present Sports Direct has now upped its interest in Debenhams stock from 13.38% to 16.09%.

But instead of buying Debenhams shares outright, the plays conglomerate instead regards “options in stock”, which contributes it a right to buy shares at a future date.

It too regards “contracts for differences”, a sort of business bet on the future Debenhams share price.

Sports Direct firstly revealed those who are interested in Debenhams more than three years ago.