Frasers Group, the parent company of Sports Direct, has sold its entire 24.93 percent interest in French Connection, a British fashion company in which it started to invest in 2017, when the share price was higher than it is now. The shares were probably worth less than £4 million (€4.5m-$5.5m) at the time of their divestiture. The group apparently took advantage of a sudden spurt in the share price of French Connection, prompted by a rumor that the company had been approached by two potential investors. The group headed up by Mike Ashley recently accumulated substantial minority holdings in two other fashion companies; Mulberry and Hugo Boss. Its Sports Direct stores have been selling some of French Connection’s products.