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Bill Gates increases stake in JJB Sports

Bill Gates, who is seen by many as the ultimate entrepreneur, has increased the stake which his charitable foundation holds in JJB Sports. After acquiring shares over the last few days the foundation's stake has risen from 2.82% to 3.14% and injected some life into the share price of JJB Sports. Today the shares were up 13% to just over 28p after the move grabbed the attention of investors.

While there do not appear to be any plans afoot for the foundation to take over JJB Sports, the very fact that such a well-known name has shown interest in the company appears to be enough for some investors. Ultimately the charitable foundation looks at ways to invest money in the future so that a vast array of charitable organisations and charitable services can benefit. When you consider the track record of Bill Gates himself has in the business arena then maybe JJB Sports shares should be monitored in the future?

It is interesting to see this move when you consider that JJB Sports is currently discussing fundraising options which could ultimately see further shares issued. Whether the move was designed so that the charitable foundation could become more involved in the potential fundraising remains to be seen but this is perhaps the best piece of news for JJB Sports shareholders for some time.

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