Baugur has acquired a 1% stake in troubled retailer Sports Direct. The Daily Telegraph
Sports Direct shares rose on speculation of the stake building – closing up 4.25 at 143.25p.
Baugur holds shares in several high street retailers including Moss Bros, Woolworths and Debenhams and stakes in private retailers such as Hamleys and Iceland.
But Baugur sources insisted the stake building in Sports Direct was purely a ‘punt’, rather than a strategic investment.