Markets

Markets Update: Currys lights up on takeover battle as markets pause for breath

The FTSE 250 company soared on Tuesday amid hopes of a bidding war.

Currys, the last London-listed electrical retailer, shot the lights out on Tuesday. Picture: Getty

Shares at Currys, the last London-listed electrical retailer, soared on Tuesday, trading up 35 per cent shot, on hopes of a bidding war.

The FTSE 250 company rejected an unsolicited £700 million (€819 million) bid from private equity firm Elliott Investors on Saturday, saying the 62p per share offer “significantly undervalues the group”. The possibility of a higher offer increased after Chinese e-commerce company JD.com confirmed it was considering making a bid.

Currys has struggled ...