Mike Ashley has won the battle for control of Rangers after the Ibrox board rejected Brian Kennedy's 11th-hour loan offer
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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.