China's JD.com weighs £2 billion bid for UK retailer The Very Group, Sky News reports
JD.com's Expansion Efforts and The Very Group Acquisition
Potential Acquisition Details
May 22 - Chinese e-commerce giant JD.com is evaluating 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 by JD.com
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.
Comments from Stakeholders
A spokesperson for JD.com declined to comment on market speculation, while The Very Group refused to comment on the report.
Background on The Very Group and Carlyle
Carlyle's Ownership 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
($1 = 0.7440 pounds)
(Reporting by Sri Hari N S and Akshaya V in Bengaluru; Editing by Vijay Kishore and Shinjini Ganguli)
