JD.com the Chinese online giant has walked away from making a bid for Curry’s the UK equivalent of JB Hi Fi.

The decision comes days after U.S. investor Elliott Advisors also walked away leading to Curry’s shares falling on the news.

The Chinese retailer which was keen on Currys’ store and warehouse network to help it expand in the U.K. and Europe and counter weak demand in China had initially said that they were interested in the retailer as they looked for International expansion.

TJD.com management claimed that that “following careful consideration,” it does not intend to make a bid.

Elliott Advisors said earlier in the week that it wouldn’t be making a firm offer for Currys either, having had proposals of 62 pence a share and then 67 pence a share rejected.

The stock closed Thursday at 58.9 pence, giving Currys a market capitalization of A1.63 Billion.

Analysts at Peel Hunt had said it would take an offer of over 80 pence per share for Currys’ board to engage.

While Currys, which sells fridges, washing machines, computers and other consumer electricals in Britain, Ireland, Sweden, Norway, Denmark, and Finland, has struggled to grow over the last two years due to the squeeze on consumer incomes, the company claims that their future looks bright.

Earlier they had announced the sale of their Greek operation would deliver A$360M for the Company.