UK-based Frasers Group is, reportedly, eyeing to acquire the high street retailer Footasylum!
It is worth stating here that Competition and Markets Authority (CMA) from the UK had ordered JD Sports to sell Footasylum early this year.
As per a report published in The Sunday Times, Frasers Group has notified the CMA of its intention to make a bid.
Frasers Group had agreed to acquire Footasylum in March 2019 for £90 million. However, there have been reports of CMA trying to block the deal ever since.
Importantly, the regulator must approve the new purchaser to ensure it is a truly independent competitor – unless JD Sports successfully appeals against the ruling.
Both JD Sports and Frasers declined to comment on the same.
The Mike Ashley-owned Frasers Group, earlier known as Sports Direct International, generated £3,957.4 million in 2020.
Also Read: Frasers Group secures around £1 billion in funding
