Sports Direct sells JJB stake

Belfast Telegraph – Mike Ashley’s Sports Direct International has offloaded its 4.8% directly-owned stake in struggling rival JJB Sports, it was revealed today.

Speculation was mounting over the identity of the buyer after the Sports World parent sold 11.9 million ordinary shares.

But it is thought that Mr Ashley – also the owner of recently relegated Newcastle Football Club – still holds further JJB shares through contracts for difference, which are a type of derivative.

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