Sports Direct loses biggest independent investor as crisis deepens

Standard Life offloads entire 5.8% holding and Aviva sells down stake amid concerns over corporate governance issues

Sports Direct has lost its biggest independent investor as some fund managers fear the crisis-hit retailer is incapable of addressing its corporate governance issues.

The Guardian has learned Standard Life, the largest independent investor at last year’s annual meeting, has bailed out of the stock, selling its entire 5.8% holding, and Aviva said it had sold down its stake.

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