The Chinese e-commerce giant JD.com has today, Tuesday, November 3rd, secured formal approval from the EU Commission for its acquisition of the German consumer electronics company Ceconomy, which is the parent company of the MediaMarkt and Saturn chains. The transaction is valued at 2.2 billion euros, or approximately 24 billion Swedish kronor. JD.com aims to complete the deal by November 12th of this year.
The process began in the summer of 2025 when JD.com presented its bid for the German retail group. Already in early October of this year, reports emerged that the EU Commission was about to approve the transaction after the parties adjusted their commitments, a decision that has now been formally confirmed by the authority in Brussels.
Requirements for Market Conditions
The deal has been reviewed by the EU Commission under the framework of the Union's regulations for foreign subsidies, the Foreign Subsidies Regulation (FSR). In July of this year, the Commission extended its review and issued formal objections to the structure. The background was concerns that JD.com had received favorable state funding, tax breaks, and direct grants from the Chinese state, which, according to the Commission, could have given the company a competitive advantage in the bidding process and risked distorting the internal market after a takeover.
To address the Commission's objections and obtain today's approval, JD.com has agreed to a number of binding commitments. The Chinese group commits to conducting all intra-group transactions and financing arrangements with Ceconomy on strictly market terms. In addition, JD.com has committed to providing third-party resellers access to the company's warehousing and logistics services on the same terms as offered to Ceconomy. According to the EU Commission, these measures ensure that cross-subsidization is prevented in the European operations.
Part of a Broader European Initiative
In connection with today's announcement from the EU Commission, JD.com's CEO, Sandy Xu, announced that the company intends to work long-term with the European consumer electronics group.
Our ambition is to support Ceconomy in accelerating growth in a sustainable manner, to further strengthen its competitive position in Europe and to continue innovating in a developing retail market.
The acquisition of Ceconomy and its store network in Europe constitutes a central part of JD.com's ongoing international expansion. In the spring of 2026, the group also expanded its digital presence in the region when it launched the marketplace Joybuy in six European markets.