China's JD.com weighs £2 billion bid for UK retailer The Very Group, Sky News reports
JD.com's Expansion Efforts in the UK Market
Potential Acquisition of The Very Group
May 22 - Chinese e-commerce 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.
Previous UK Market Moves
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.
Responses from Involved Parties
The Very Group declined to comment on the report, while JD.com did not immediately respond to a Reuters request.
Background on The Very Group and Ownership
Carlyle's Role and Sale Plans
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.
End of Barclay Family Involvement
Carlyle took control of the group last year, ending the Barclay family's long-standing involvement in the business.
Additional Information
Exchange Rate
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Report Credits
(Reporting by Sri Hari N S and Akshaya V in Bengaluru; Editing by Vijay Kishore)
