- Frasers Group has bought £6.5 million worth of shares in fashion company Mulberry, it announced today.

The parent company of the House of Fraser retail chain increased its stake in the Somerset-based leather specialist to 36.82% through the purchase of 4.3 million shares from Icelandic company Kaupthing.

The acquisition did not trigger a requirement to make an offer for the rest of Mulberry's shares as the majority shareholder, Challice Ltd, owned 56% of the company, Frasers said.

However, Frasers added that it was reserving its right to make a voluntary offer for the company. Any offer would be made in cash, but there was no certainty that one would materialise, the company said.

The deadline for an offer to be made is 17 December 2020.

At 1:12pm:

[LON:FRAS] Frasers Group PLC share price was 0p at 461.2p

[LON:MUL] Mulberry Group PLC share price was 0p at 170p

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