Two Swedish giants are growing closer: Interogo Holding AC, an investment company linked to Ikea, has bought a 190 million US dollar stake in Hennes & Mauritz (H&M), according to news agency Bloomberg. Interogo didn’t previously own any shares in the fast fashion company.

The acquisition of the 0.6 percent stake follows rumors that H&M’s chairman, Stefan Persson, would take the company private, as he’s recently bought stakes himself. Persson has denied the rumors.

Approached by FashionUnited, a spokesperson for H&M said the company chooses not to comment about shareholders and whether they purchase or sell shares. However, the company publishes the list of its 20 largest shareholders on its website.