JD Sports raises its stake in Footasylum to more than 18 percent

(Reuters) - Footasylum Plc said on Tuesday its larger rival JD Sports Fashion Plc has increased its stake in the company to more than 18 percent.

Footasylum made the disclosure in a filing https://reut.rs/2GzCB69.

JD Sports on Monday had said that it had acquired an 8.3 percent stake in youth footwear and clothes seller Footasylum and could buy nearly 30 percent of it, while clarifying that it did not intend to make an offer for the company.

(Reporting by Sangameswaran S in Bengaluru; Editing by Shailesh Kuber)