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The majority owner of Mulberry has called on Mike Ashley's Frasers Group to abandon its takeover interest in the struggling luxury brand. Singapore-based Challice, which has a 56% stake, released a statement on Sunday which declared it had "no interest" in selling to Frasers - already the second-largest investor in Mulberry with 37%.

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Reuters

United Kingdom

Mulberry majority shareholder rejects selling to Frasers

Mulberry’s majority shareholder said it “has no interest” in selling its stake in the business to the Sports Direct owner.

Ad Fontes Media

All Sides

Media Bias/Fact Check

The Independent

Evgeny Lebedev

London

Greater London

England

Mulberry rejects £111m takeover approach by Frasers Group

The majority shareholder in luxury brand Mulberry on Sunday said it had no interest in selling any of its stake to sportswear and apparel retailer Frasers Group , in a statement designed to end Frasers' takeover attempt.

The Woodbridge Company

Frasers Group’s £83m offer is ‘a distraction’, says property tycoon Ong Beng Seng

The Telegraph

Press Holdings

David and Frederick Barclay

Billionaire Mulberry owner has ‘no interest’ in selling handbag maker to Mike Ashley

British luxury brand Mulberry said today it is working with advisers to evaluate Frasers' sweetened £111m takeover proposal, after its top investor Challice declined to sell shares to the sportswear retailer.

RTÉ

Government of Ireland

Ireland

Mulberry to evaluate sweetened Frasers' bid

Challice urges Frasers to abandon its interest in the company, though Mulberry is yet to take a view on a raised takeover bid submitted by Mike Ashley's firm at the end of last week.

Sky News UK

Roberts family

Mulberry's majority shareholder refuses sale to Frasers

British retailer Mulberry has announced that it is evaluating Frasers’ second bid for the firm, despite a lack of interest from its majority shareholder, Challice.  In light of Frasers’ £111m bid, the luxury brand is “working with advisers to consider the company’s position,” it said, despite Challice’s public snub of the deal.  Challice, which is backed by a Singapore-based firm owned by billionaires Christina Ong and Ong Beng Seng, owns a 56 p…

City AM

Mulberry to ponder bid from Mike Ashley's Frasers despite lack of interest from majority shareholder

The biggest shareholder of the British handbag maker has rejected a revised takeover bid, calling it a distraction

The Times

Mulberry rejects Frasers Group bid

The majority owner of Mulberry has called on Mike Ashley’s Frasers Group to abandon its takeover interest in the struggling luxury brand. Singapore-based Challice, which has a 56% stake, released a statement on Sunday which declared it had “no interest” in selling to Frasers – already the second-largest investor in Mulberry with 37%. Frasers, which is run by Mr Ashley’s son-in-law Michael Murray, had raised its bid for the handbags-to-belts make…

khbrknews

Mulberry’s largest shareholder Challice has rejected Frasers Group’s increased bid of £111m for the fashion retailer as said it had “no interest” in selling its stake. The luxury handbag retailer’s major shareholder, which owns a 56% stake, said: “Challice has no interest in either selling its Mulberry shares to Frasers or providing Frasers with any irrevocable or other undertaking with regards the possible offer.” It pointed out that Frasers wo…

Retail Gazette

Mulberry rejects Frasers Group’s increased bid as major shareholder has 'no interest' in selling - Retail Gazette

Mulberry’s majority shareholder Challice has turned down an increased bid of £111m from Frasers Group as it has “no interest in selling”. Chalice pointed out that Frasers would be unable to take over Mulberry without its support. Frasers, which already owns 37% of Mulberry, raised its offer for the retailer to 150p a share on Friday after an earlier £83m bid, worth 130p a share, was rejected earlier this month. The firm also opted to participate…

Mulberry rejects £111m takeover approach by Frasers Group

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