China's JD.com Walks Away from Bidding for Currys
Reuters03-15
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.
JD.com shares rose 1.9% in morning trading.
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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
