UK-based sportswear and fashion retailer Frasers Group has increased its stake in electricals retailer Currys.
Frasers raised its stake in the company from 10.4% to 11.1%. Financial terms of the transaction have not been disclosed.
This comes after Reuters reported last week that Currys was exploring "a number of avenues" for possible partnership with Frasers.
Currys CEO Alex Baldock told the news agency: "We share a vision for omnichannel retail - we both like stores, we both like online, we both like them together, and when it comes to partnering with the technology space which they want to do, we're the natural choice. This is a potentially interesting partnership that we've started discussions on.
"There's a number of avenues that we're exploring."
Last month, the sportswear and fashion retailer acquired a 5.01% stake in online fashion seller boohoo and an 8.9% stake in Currys.
Currys operates a network of 823 stores and online channels in eight countries. It also operates advanced repair facilities in Newark, UK and a sourcing office in Hong Kong.
The company trades as Currys in the UK & Ireland, under the Elkjøp brand in the Nordics, and as Kotsovolos in Greece. It has 28,000 employees.
Last week, Currys reported a 6% decline in revenue to £9.5bn ($12.1bn) for fiscal year 2022-23, compared to £10.1bn in fiscal year 2021-22.
