British retailer J Sainsbury PLC (LON:SBRY) said on Sunday it has ended talks with China’s JD.com (HK:9618) over a potential sale of its Argos unit, citing that the Chinese e-commerce group sought revised terms which were not in shareholders’ best interests.
Sainsbury’s said JD had indicated it would only continue discussions on a “materially revised set of terms and commitments ” that the supermarket group could not accept.
Argos, Britain’s second-largest general merchandise retailer, has more than 1,100 collection points and the country’s third most visited retail website.
The company reaffirmed its guidance for the 2025/26 financial year, expecting retail underlying operating profit of around 1 billion pounds and free cash flow above 500 million pounds.
Hong Kong-listed shares of JD.com traded over 1% higher as of 03:14 GMT, tracking broader market moves.
Source :
https://www.investing.com/news/stock-market-news/sainsburys-ends-argos-sale-talks-with-chinas-jdcom-4237878
