Sports Direct lifts Umbro stake to 9 per cent

By Karen AttwoodPublished: 15 September 2007Mike Ashley's Sports Direct has built up a 9 per cent stake in Umbro, triggering speculation that the football kit maker could be heading for a takeover bid.Umbro told the Stock Exchange yesterday that Sports Direct, which owns Lillywhites and the Sports World chain, holds 13.2 million shares in the company, after it had built its stake up to 5 per cent