Chinese ecommerce giant JD.com is eyeing a potential £2 billion ($2.69 billion) bid for the British online shopping platform The Very Group, Sky News reported on Friday, in its latest push to expand in the UK market.
The move would follow JD.com’s earlier UK efforts, including its failed takeover bid for electricals group Currys and its decision last year to walk away from talks to acquire Argos from Sainsbury’s.
The Very Group declined to comment on the report, while JD.com did not immediately respond to a request.
Sky News reported in January that Carlyle, the owner of The Very Group, was planning a £2 billion sale of the company, just months after taking control of the British retailer.
Carlyle took control of the group last year, ending the Barclay family’s long-standing involvement in the business.
Source: Economic Times