JD.com mulls acquisition of Currys

JD.com is considering acquiring UK electronics retailer Currys, including the possibility of making a cash offer for the entire issued share capital of Currys.

According to a statement seen by MARKETING-INTERACTIVE, JD.com confirmed that it is in the very preliminary stages of evaluating a possible transaction that may include a cash offer for the entire issued share capital of Currys.

"There can be no certainty that any offer will ultimately be made for Currys, nor as to the terms on which any offer might be made. A further announcement will be made if and when appropriate," the statement reads.

According to the London Stock Exchange code, JD.com is required, by not later than 5 pm on 18 March 2024, to either announce a firm intention to make an offer for Currys. 

MARKETING-INTERACTIVE has reached out to Currys for a statement. 

Recently, Currys rejected a proposal from investment management firm Elliott Advisors to acquire the company, according to multiple media reports such as Bloomberg and Reuters. It considered that the proposal “significantly undervalued the company and its future prospects.”

Currys is a British electrical retailer and aftercare service provider operating in the United Kingdom and Ireland, specialising in white goods, consumer electronics, computers and mobile phones. It operates around 300 stores in the UK and employs more than 15,000 people.

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Back in January, JD.com launched its first self-operated direct procurement warehouse for fashion goods in Paris, France. This initiative is a key component of the company’s cross-border eCommerce strategy, aiming to facilitate the entry of more European brands into the Chinese market by providing efficient fulfilment solutions.

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