Ashley’s Sports Direct divests stake in MySale

Bloomberg

Mike Ashley’s Sports Direct International Plc sold its stake in MySale Group Plc after the Australian fashion website withdrew from the UK market, another setback for the billionaire UK retailer.
The sports retailer sold its 4.8 percent holding for an undisclosed amount, according to a regulatory filing. MySale shares began selling at $2.91 in June 2014, which would have valued the Sports Direct stake at about 15 million pounds then.
MySale is another losing bet for Ashley after the wipeout of his investment in the troubled Debenhams UK department store chain that was taken over by lenders and de-listed earlier this year. Ashley called the Debenhams episode a “national scandal.”