Fiona Walsh
Tuesday March 27, 2007
Guardian Unlimited
Secretive retail billionaire Mike Ashley has splashed out more than £180m on a 3.14% stake in Adidas, the German sportswear group.
News of his holding saw shares in Adidas, the world's second-largest sporting goods maker, jump €1.15 on the German stock exchange today, to €40.25 (£27.32).
Just weeks ago Mr Ashley raised £929m by floating his Sports Direct empire on the London stock market. At the time, he said he had no plans to spend the cash, but would put it in the bank instead.
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