Founder of online shopping group cements control as Japanese firm offloads its holding at £450m loss
THG shares have jumped on the news that Japan’s SoftBank will sell its stake in the troubled British online shopping group to its co-founder Matthew Moulding and Qatar’s sovereign wealth fund.
The move has cemented Moulding’s control of THG, formerly known as The Hut Group, which owns a range of internet health and beauty retailers, and ended speculation about SoftBank’s disastrous investment.
Founder of online shopping group cements control as Japanese firm offloads its holding at £450m lossTHG shares have jumped on the news that Japan’s SoftBank will sell its stake in the troubled British online shopping group to its co-founder Matthew Moulding and Qatar’s sovereign wealth fund.The move has cemented Moulding’s control of THG, formerly known as The Hut Group, which owns a range of internet health and beauty retailers, and ended speculation about SoftBank’s disastrous investment. Continue reading…
