Just two months after selling shares in Helsinki-listed Amer Sports, UK-based sporting goods firm Sports Direct has bought a 4.96% stake in the firm for a reported £36 million. It sold its 12.16% share in the sports footwear and equipment company in November for £116.2 million.

Sports Direct is owned by the owner of premiership football team Newcastle United. Despite fears of a sales decline over the next six months, it reported sales and profit increases for the 11 weeks from October 29 to January 13.

Amer shares fell 10% on January 22, but rose 3.3% after the news of Sports Direct’s share buying became public today. Amer’s brand portfolio includes Salomon and Wilson.

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