Sainsbury's and JD.com Terminate Talks Over Argos Sale
By Aimee Look
J Sainsbury said discussions with Chinese online retailer JD.com to purchase its Argos home-retail business fell through.
The U.K. supermarket chain said Sunday that JD.com--one of China's largest retailers--now would only be prepared to agree to revised terms that are unfavorable for Sainsbury's shareholders, stakeholders and employees.
JD.com didn't immediately respond to a request to comment.
The collapse of negotiations over Argos came one day after Sainsbury's disclosed that talks between the two companies were taking place. On Saturday, Sainsbury's had confirmed it was in discussions with JD.com for a potential sale of Argos, and that the move would catalyze the brand's transformation.
Sainsbury's added that Argos's performance was aligned with expectations this summer, and that it was working to boost the general merchandise retailer's digital capabilities.
Last year, JD.com held preliminary talks to purchase U.K. electronics company Curry's, which were subsequently terminated. The Chinese company is in the process of buying Germany's Ceconomy.
Write to Aimee Look at aimee.look@wsj.com
(END) Dow Jones Newswires
September 15, 2025 02:17 ET (06:17 GMT)
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