Austria Delays JD.com Takeover Clearance for Ceconomy

Handelsblatt

Lean Right

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For the acquisition of Ceconomy there is no clearance under investment control law. Whether and when a release could occur is unclear so far.

nachrichten.at

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D SELDORF/VIENE. The Chinese tech giant JD.com reacts to new developments in the retailing of the media market mother Ceconomy and resubmits an application under the Investment Control Act in Austria.

der Standard DE

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The request of the Chinese tech giant was withdrawn. According to a MediaMarkt manager, the withdrawal from Austria was the "last option"

netzwoche.ch

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The acquisition of Media Markt Saturn by JD.com is in dry cloths: the Chinese Group secures a majority stake in the parent company Ceconomy. While the deal in Switzerland is progressing without visible hurdles, Austria is slowing down the execution.

www.kleinezeitung.at

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Austria's approval for the sale of MediaMarkt/Saturn by Ceconomy to the Chinese JD.com is open. So far no investment control clearance has been granted by the state. If there is no agreement, the deal could be made without Austria.