French Connection boss to sell 10%

French Connection Group, the British owner of fashion stores in Europe and the US, said chairman and chief executive Stephen Marks plans to sell as much as 10% of the stock, relinquishing his controlling stake in the business he founded in 1969.

The shares fell as much as 6.4%.

Mr Marks, 58, will sell 8 million to 9 million shares to institutional investors to fund a divorce settlement with his wife Alisa, according to people familiar with the matter who declined to be identified.