Asia Tech Wire (Feb 19) -- Chinese e-commerce giant JD.com Inc. (9618.HK) is considering buying British electricals retailer Currys Plc, a report said Sunday.

JD.com has been in touch with Currys in recent weeks and held informal and exploratory talks, The Telegraph reported, citing sources.

The two companies have also been looking at co-operation in the form of joint ventures and strategic investments, the report said.

JD.com is looking for growth outside of China, so it's not surprising that it's eyeing Currys.

Currys said on Saturday that it had rejected a preliminary offer of 700 million pounds ($883 million) from London-based investment management firm Elliott Advisors as it "significantly undervalued" the company.

However, Elliott Advisors is considering making a new cash bid for Currys, The Times reported on Monday.

Currys is a London-listed retailer with 300 shops in the UK and more than 15,000 employees. It is currently facing a number of serious challenges, including the collapse of third-party mobile phone sales.

(£1 = US$1.2614)