Report: British supermarket chain Sainsbury is in talks to sell its subsidiary Argos to Chinese company JD.com

The UK's second largest supermarket chain J Sainsbury Plc is in talks with e-commerce company JD.com to sell its general merchandise company Argos. Sainsbury's said in an email statement on Saturday, "Reaching a deal with JD.com will accelerate the transformation of Argos," JD.com will bring expertise in retail, technology, and logistics, and its investment will drive growth for Argos. Sainsbury's stated, "Any potential terms of the deal will include commitments made by JD.com regarding Argos to benefit customers, employees, and partners." The company did not provide any financial details of the potential deal. The British retailer said that no agreement has been reached yet, and it is unclear at the moment whether the deal will proceed.