UK supermarket chain J Sainsbury’s said on Sunday that talks to sell Argos to one China’s biggest retailers had collapsed, adding a deal was no longer in the interest of stakeholders.
The company said in a statement that it terminated discussions and that JD.com was now only “prepared to engage on a materially revised set of terms and commitments” that would be unsatisfactory for Sainsbury’s “shareholders, colleagues and broader stakeholders”.
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