Chinese ecommerce company JD.com has said it is in the early stages of considering an offer for Currys, setting up a possible bidding war for the UK electronics retailer.
JD.com’s interest comes just days after Currys rejected an unsolicited bid from US investment group Elliott Management, saying it significantly undervalued the company.
Elliott’s proposal of 62p a share — a roughly 32 per cent premium to its closing price on Friday — valued the company at about £700mn. Currys’ shares surged 36 per cent to 64p in early trading on Monday.
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