Boohoo hits back at Frasers after Mike Ashley demands board seat

Boohoo's board has responded to Frasers' latest comments, accusing the company of a "selective approach" to safeguarding shareholders as the battle between the firms goes on. The Manchester-based online fashion retailer offered Frasers a seat on its board, provided neither Mike Ashley nor Mike Lennon occupy it.

In an open letter on Thursday, Frasers Group argued that Boohoo's resistance to Ashley and Lennon joining its board was primarily due to concerns the move would "dilute" the influence of executive vice chair Mahmud Kamani. However, in a market statement released this morning, Boohoo countered that “when it comes to protecting minority shareholders, Frasers will decide which commitments it wishes to give and on what terms.”