China’s JD.com walks away from bidding for Currys

By Thomson Reuters Mar 15, 2024 | 9:12 AM

LONDON (Reuters) -Chinese online retailer JD.com said on Friday that it would not make an offer for British electricals group Currys, days after U.S. investor Elliott Advisors walked away from tabling a bid.

Currys shares, which slumped to a session low after the update, were down 6% at 55.4 pence by 1409 GMT.

“JD.com today confirms that, following careful consideration, it does not intend to make an offer for Currys,” the company said.

Elliott walked away on Monday, saying Currys’ board would not engage with it.

(Reporting by Muvija M; editing by William James)