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Mike Ashley increases stake in Rangers

Mike Ashley
Mike Ashley appears to be losing fans in Newcastle. Credit: PA

Newcastle owner Mike Ashley has increased his stake in Rangers to almost nine per cent, the Glasgow club have confirmed.

Ashley's MASH Holdings Ltd has been named as the purchaser of more than four million shares, which were sold by Hargreave Hale earlier this week.

Several updates to the London Stock Exchange show that Ashley transferred his existing shareholding to MASH Holdings, which he owns in its entirety, to give him a total stake of 8.92 per cent.

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