JD, the Chinese e-commerce titan, is reportedly considering a significant expansion within the UK market, with a potential £2 billion ($2.69 billion) acquisition bid for the British online retail platform, The Very Group.
This move is the latest in a series of attempts by JD to strengthen its foothold in the UK market. Previously, the company had made a failed attempt to acquire the electricals group Currys and, in 2020, had withdrawn from negotiations aimed at acquiring Argos from Sainsbury’s. These activities indicate JD’s strong interest in expanding its operations in the UK, despite previous setbacks.
Representatives from JD and The Very Group have refrained from commenting on these market speculations.
The owner of The Very Group, Carlyle, was reported earlier this year to be planning a £2 billion sale of the enterprise. This news came just a few months after Carlyle assumed ownership from the Barclay family, who had been long-time stakeholders in the business.
What is the estimated value of the deal between JD and The Very Group?
The value of the potential deal is speculated to be around £2 billion ($2.69 billion).
What other UK ventures has JD been involved in?
In the past, JD has attempted to buy the electricals group Currys and also entered negotiations to acquire Argos from Sainsbury’s.
Who is the current owner of The Very Group?
The Very Group is currently owned by Carlyle, which took over from the Barclay family last year.
