The European Commission has approved JD.com’s planned takeover of Ceconomy, which owns electronics retailer MediaMarktSaturn, subject to conditions. The Chinese e-commerce company may acquire a majority stake in Ceconomy, but the EU says the deal must not give the retailer an unfair advantage through Chinese state support.
Brussels raised concerns that JD.com receives subsidies, including tax benefits and state-backed loans, which help fund parts of its logistics and IT systems. The Commission said those resources could also benefit MediaMarktSaturn after the acquisition, potentially putting competitors in Europe at a disadvantage.
Under the commitments, JD.com must offer its logistics services, warehouses and technologies to other market participants on the same terms as it provides them to Ceconomy. The companies must also ensure that transactions between JD.com and Ceconomy, particularly financing, take place on market terms to prevent cross-subsidisation. The commitments will apply for ten years.
JD.com and Ceconomy said in a joint statement that all conditions for the offer had now been met and that they planned to complete the transaction in the coming days. The offer values Ceconomy at about €2.2 billion.
The Commission’s approval follows Germany’s clearance of the deal in summer 2025, also subject to conditions. These include protections for customers’ personal data and oversight powers for the German government, which can revoke its approval if the requirements are breached.
Ceconomy operates more than 1,000 MediaMarkt and Saturn stores across 11 European countries, including around 400 in Germany. EU Competition Commissioner Teresa Ribera welcomed what she described as the companies’ constructive approach, saying consumers benefit when businesses compete on equal terms.
Sources: Tagesschau.