Chinese online retailer JD.com has said it would not make an offer for British electricals group Currys, days after US investor Elliott Advisors walked away from tabling a bid.
Currys shares, which slumped to a session low after theupdate, fell in the wake of this latest announcement.
"JD.com today confirms that, following careful consideration, it does not intend to make an offer for Currys," the company said.
Currys Group has operations in the UK, Ireland, Sweden, Norway, Denmark and Finland.
It recently agreed to the sale of its Greek business, with that deal set to conclude in April.
Elliott Advisors made two bids for the retail group in February, the second of which valued the company at £757m.
However both were swiftly rejected by the company.
On Monday Elliott said it would not make another offer for the company after its board failed to engage with it.
"Following multiple attempts to engage with Currys' board, all of which were rejected, it is not in an informed position to make an improved offer for Currys on the basis of the public information available to it," it said in a statement to the stock exchange.
JD.com had reportedly shown an interest in Currys, as it sought a bricks and mortar presence in Europe to help counter a slowdown in consumer demand in its home market.
