FRANKFURT (dpa-AFX Broker) - The entry of British billionaire and investor Michael Ashley into Puma sent the company's share price soaring on Thursday. By midday, shares had climbed nearly six percent to €22.91. Since December, the stock has hovered around the €23 mark, at times experiencing significant swings in both directions.

Ashley has built up a stake of around 5.8 percent in the sportswear manufacturer, primarily through derivatives. This would make the investor the company's second-largest shareholder. At the end of January, Chinese conglomerate Anta Sports Products announced plans to acquire the roughly 29 percent stake held by the French billionaire Pinault family for around €1.5 billion./bek/nas/men

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