JD.com on Friday said that it had was no longer interested in acquiring Currys PLC.
In February, the Beijing-based company said that it was considering acquiring of the electricals retailer.
JD had until Tuesday to make an offer for the company, but on Friday said that, ‘following careful consideration’, it had opted against making an acquisition proposal.
However, JD added that it reserves the right to make an offer for Currys within the next six months.
In February, Currys rejected an unsolicited £702.8 million takeover offer by Elliott Advisors, a London-based private equity firm. This proposal was raised to £757 million, but an additional rejection led Elliott to walk away from the table last week.
Shares in JD closed down 1.8% at HK$104.50 in Hong Kong but were 2.5% higher at $27.74 each in New York. Meanwhile, Currys shares fell 3.3% to 56.95 pence each in London.
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