Chinese ecommerce company JD.com is in the early stages of considering a possible cash offer for UK electronics retailer Currys, it said in a statement on Monday.
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 per share — a roughly 32 per cent premium to its closing price on Friday — valued the company at about £700mn.
Currys chief executive Alex Baldock, who joined in 2018, has been spearheading a turnaround of the chain, which sells televisions, laptops and other electrical goods online and through 815 stores in eight countries
Currys shares rose 36 per cent to 64p in early trading on Monday.