Mike Ashley's Strategic Moves Shake Boohoo and Ofwat

Mike Ashley, a prominent UK retail tycoon, urges Boohoo shareholders to refrain from a 'fire sale' of assets as he seeks a board position at the company. Meanwhile, Ofwat's simultaneous employment of consultancies working for water companies sparks conflict of interest concerns.

UK retail magnate Mike Ashley has called on Boohoo shareholders to avoid a 'fire sale' of assets. His advisory coincides with his efforts to secure a board seat at the Aim-listed fashion retailer.

In finance circles, the potential divestment strategy has caused ripples, as investors consider the company's next moves amid market uncertainties.

Meanwhile, in regulatory news, the employment practices of Ofwat have surfaced concerns. The water regulator engaged consultancies that had concurrent roles with water and sewerage firms, highlighting possible conflicts of interest.

(With inputs from agencies.)