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British retailer Currys drops 5% as China's JD.com walks away from takeover race - TL;DR CNBC

British retailer Currys drops 5% as China's JD.com walks away from takeover race

Publishing timestamp: 2024-03-15 12:10:05


Summary

British electronics chain Currys faced more rejection as Chinese online retailer JD.com walked away from the takeover race for the firm. This comes after Elliott Investment Management also decided not to make another takeover bid. Currys shares plunged more than 10% on the announcement. The company has been struggling with increased competition and depressed consumer spending, with its share price falling around 60% since early 2021.


Sentiment: NEGATIVE

Tickers: CURY-GB

Keywords: currys plcretail industrybusiness newsbreaking news: businessmarketsbreaking news: markets

Source: https://www.cnbc.com/2024/03/15/british-retailer-currys-drops-5percent-as-chinas-jdcom-walks-away-from-takeover-race.html


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