Reports indicate that JD.com, a major e-commerce company in China, has expressed interest in acquiring the business operations of Currys, an electrical appliance retailer in the United Kingdom. The deal’s value has not been disclosed yet, but it is said to be in the early negotiation stages.
Previously, Currys received a buyout offer from the Elliott fund worth £700 million, which the company rejected citing that the offer undervalued the true worth of the company.
Established in 1884, Currys is an electrical appliance retailer that recently rebranded by consolidating its three separate brands, PC World, Dixons, and Carphone Warehouse, into a single Currys brand. However, the impact of the economic downturn in the country has affected its business performance and stock prices, making it a target for potential takeovers by foreign companies like JD.com.
Both Currys and JD.com have declined to comment on these reports.
Source: The Guardian
TLDR:
JD.com is in early talks to acquire the business operations of Currys, a UK-based electrical appliance retailer. Despite a previous offer being rejected, the true value of the company remains a point of contention. The economic challenges in the UK have made Currys a target for foreign takeovers like the one potentially being pursued by JD.com. Both companies have refrained from commenting on the matter.
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