The owner of Mulberry has firmly rebuffed Mike Ashley's Frasers Group's increased offer for the brand, stating they have no interest in selling their shares.
Challice, holding 56% of Mulberry, emphasized that it's not the right time for a takeover, asserting the company's management is set for a turnaround.
Despite being a significant shareholder in Mulberry, Frasers Group will not succeed in a takeover attempt without Challice’s backing, as they control a majority stake.
Frasers recently lost a considerable amount due to the collapse of Debenhams, which has motivated its interest in acquiring Mulberry to avoid a similar fate.
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