ASOS SHARES PAY FOR DIVORCE

The joint founder of online fashion chain Asos has sold £46 million in shares to pay for his divorce, resulting in stock dropping 2 percent.

Nick Robertson sold 1.305 million shares, which equates to roughly 1.6 percent of the business following a High Court ruling that Robertson will need to pay over a third of his £220 million fortune to ex-wife Janine, with whom he has two children.

Robertson has also been forced to forfeit the family home and move in with his former personal assistant, Charlotte Balin.