Chinese Ecommerce Giant JD.com Given Notice of EU Concerns over Ceconomy Takeover
The Commission said JD.com may have benefited from Chinese state support and set an October 2 deadline for its decision.
10 Articles
10 Articles
In China, JD, as the largest retailer, is suffering from the cooling economy. In Europe, it still sees plenty of room for growth, partly through the acquisition of MediaMarkt and the introduction of Chinese brands. Executive Sandy Xu: “It is a two-way street; we can also help European brands sell better in China.”
EU outlines its objections to JD.com's acquisition of MediaMarkt - RetailDetail EU
The European Commission is taking a new step in the proceedings regarding JD.com’s planned acquisition of MediaMarkt owner Ceconomy. Specifically, the EU is investigating whether the Chinese retail giant has received state aid.
The Chinese Internet company wants to buy Ceconomy. However, the EU Commission suspects that the acquisition of JD.com is only possible through state aid.
It seems that the German electronics chain Mediamarkt is about to pass into Chinese hands. The e-commerce giant JD.com has submitted an offer by Ceconomy (owner of both Mediamarkt and Saturn) worth 2.5 billion dollars, but Realtid now reports that the agreement could have found a stumbling block. The European Commission suspects that JD.com has received significant state subsidies in China, which would prevent it from making the purchase under t…
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