Published: September 15, 2025 at 7:45 am
J Sainsbury plc confirmed that it had entered talks to sell Argos to Chinese giant JD.com on Saturday – but they have already ended without agreement.
The listed supermarket group notified the London Stock Exchange this morning that the talks over Argos holding company Home Retail Group Limited – which it bought for £1.4 billion in 2016 – had been ‘terminated’.
It added that JD.com had ‘communicated that it would now only be prepared to engage on a materially revised set of terms and commitments which are not in the best interests of Sainsbury’s shareholders, colleagues and broader stakeholders’.