Sports Direct buys 5 pct stake in MySale

Reuters - UK Focus

LONDON, June 18 (Reuters) - Mike Ashley's Sports Direct (Frankfurt: A0MK5S - news) said on Wednesday it had bought a 4.8 percent stake inMySale Group, an Australian fashion sales site thatlisted on the London stock market earlier this month.

"Sports Direct looks forward to developing its relationshipwith MySale, including the potential to co-operate onsignificant collaboration and joint venture opportunities inAustralasia and Asia," it said.

"This partnership approach is consistent with SportsDirect's strategy in other regions and the groupbelieves that MySale is ideally suited to help realise SportsDirect's multi-channel potential in Australasia and Asia."

(Reporting by Kate Holton; Editing by Costas Pitas)

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