Strong Currys sales raise prospect of new bids

CURRYS upped its profit guidance today after a stronger-than-expected start to 2024, in a move that appears to vindicate its board’s decision to rebuff three takeover approaches from two different firms in the past month.

- Daniel O’Boyle

Chinese online retailer JD.com and American investment firm Elliott Partners looked to be in a bidding war for the high-street giant, but hopes of a takeover were dashed last week when both would-be buyers pulled out of the running.

Elliott had made two bids, the second valuing Currys at £757 million, but the retailer’s board said both were too low. JD.com did not submit a formal bid, but did make a preliminary approach.