Sainsbury’s ends talks to sell Argos to China’s JD.com

In a statement on Sunday, Sainsbury’s said: “Following the media speculation on 13 September regarding discussions between J Sainsbury plc (Sainsbury’s) and JD.com Inc (JD.com) about a potential sale of Home Retail Group Limited (Argos), JD.com has 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.