Frasers aims for majority control of Hugo Boss, reviews support for board chair

(Sharecast News) - Frasers Group on Tuesday said it plans to lift its stake in German fashion house Hugo Boss to above 50%, after recently increasing its holding to 47.89% following the close of its €1.93bn offer. The UK retailer, founded by Mike Ashley, said it would keep buying shares to secure a majority position in Hugo Boss.

Frasers added that it is reviewing its support for Hugo Boss supervisory board chairman Stephan Sturm, signalling potential governance changes as it moves toward greater control.

Reporting by Frank Prenesti for Sharecast.com