The Daily Telegraph reports that Mike Ashley, the majority shareholder of Sports Direct International (SDI), is eyeing a stake in House of Fraser, a big British chain of fashion department stores. The unconfirmed report said that Ashley had been holding talks with several of House of Fraser's shareholders, to acquire their stake and form a strategic partnership. The retailer, which has 62 stores in the U.K. and Ireland, was acquired in 2006 by a consortium headed by Baugur, the failed Icelandic retail investment group. The newspaper added that a takeover might be tricky because none of the shareholders were allowed to sell without the approval of others. In the last two years SDI has acquired majority stakes in three fashion chains: USC, Cruise and Flannels.

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