BREAKING NEWS

BREAKING NEWS

Footasylum shares up 31 percent after JD Sports takes stake

Footasylum shares up 31 percent after JD Sports takes stake
FILE PHOTO - People pass a JD Sports store in London, Britain April 11, 2017. REUTERS/Neil Hall -
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Neil Hall(Reuters)
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(Reuters) - British retailer JD Sports Fashion Plc said on Monday it had acquired an 8.3 percent stake Footasylum Plc and could buy nearly 30 percent of its smaller rival, sending shares in Footasylum 31 percent higher.

JD, which already owns brands Footpatrol and Cloggs, also said that it confirmed it did not intend to make an offer for Footasylum under merger regulations.

(Reporting by Samantha Machado in Bengaluru; editing by Patrick Graham)

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