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The Guardian - UK

Business

Jasper Jolly

Currys shares soar as Chinese online retailer enters takeover battle

Currys Elliott Clive Black United Kingdom Carphone Warehouse JDcom United States

a currys store — Currys said on Sunday it had rejected a £700m preliminary offer from Elliott, saying it ‘significantly undervalued the company and its future prospects’. Photograph: Currys/PA

A Chinese e-commerce company has said it is considering making an offer for Currys, sending the electronics retailer’s shares soaring amid hopes of a bidding war with private equity investor Elliott.

The share price of Currys surged by a third on Monday morning after JD.com revealed it was “in the very preliminary stages” of a cash takeover bid.

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