Frasers has upped its stake in AO World and Currys as it continues its acquisition spree.

The Mike Ashley owned group raised its holdings in the Bolton-based online electrical retailer for the third time this month to 22.2% from 21.3%.

It also lifted its shareholdings in Currys to 10.4%, which it said last week was part of a “strategic investment” as it looks to increase its “foothold in the electricals industry”.