FRANKFURT/LONDON (dpa-AFX) - A jump in the share price of the British electronics retailer Currys due to takeover fantasies also drove the shares of the German sector company Ceconomy on Monday. While Ceconomy, the SDax leader, rose by almost four percent, the Currys share price in London jumped by 35 percent. Ceconomy approached its high of the previous week. Currys reached its highest level for almost a year.

Chinese e-commerce giant confirmed a report in the Telegraph newspaper on Monday that it is considering a purchase of Currys. According to the report, JD is in preliminary talks about a possible transaction, which could include a cash offer for all outstanding shares. It added that JD has until March 18 to decide on an offer.

The newspaper report stated that the electronics retailer Currys, formerly known as Dixons Carphone, was on the Chinese company's radar as it was looking for new ways to drive growth in times of increasing competition. Shares in came under pressure after the announcement in Hong Kong, falling by more than four percent.

The new speculation also raises hopes of a bidding war. At the weekend, Currys rejected a preliminary offer of 62 pence from financial investor Elliott as "clearly too low". This was already almost 32 percent higher than the closing price of the shares on Friday. With a recent share price slump of more than 40 percent, Currys shares have had a dismal run since March 2023./tih/jha/ajx/mis