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Mike Ashley's Frasers starts share buyback of up to 60 million pounds

Mike Ashley's Frasers starts share buyback of up to 60 million pounds
Mike Ashley's Frasers starts share buyback of up to 60 million pounds   -   Copyright  (c) Copyright Thomson Reuters 2021. Click For Restrictions - https://agency.reuters.com/en/copyright.html
By Reuters

LONDON (Reuters) – Frasers Group, the British sportswear retailer controlled by Mike Ashley, will start a new share buyback programme of up to 60 million pounds ($83.3 million), it said on Tuesday.

The purpose of the programme is to reduce the share capital of the company.

Ashley owns 63.5% of Frasers’ equity.

(Reporting by James Davey; editing by Jason Neely)