BUSINESS LIVE :THG to sell luxury portfolio to Frasers; Prudential preps £2bn buyback; SIG profit warning

The FTSE 100 will open at 8am. Among the companies with reports and trading updates today are THG, Frasers Group, Prudential, SIG and Supreme. Read the Monday 24 June Business Live blog below.

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THG to sell luxury portfolio to Frasers

THG has agreed to sell its portfolio of luxury goods websites to Frasers Group for an undisclosed sum, with Mike Ashley’s retail giant adding brands like Coggles and annual revenues of £43million.

Michael Murray, CEO of Frasers Group said:

‘Today we are pleased to announce a new strategic partnership with THG, which includes launching our consumer credit and loyalty proposition, Frasers Plus across the THG Ingenuity platform.

‘This is an exciting step towards our Frasers Plus ambitions as we look to expand its offering across additional third-party platforms.

‘We are looking forward to working with the THG team and unlocking further benefits for both businesses.’