EU Approves JD.com Acquisition of MediaMarkt Parent Ceconomy

Electronics shopping in Sweden will soon integrate Chinese e-commerce logistics. The European Commission conditionally approved JD.com's acquisition of Ceconomy AG. Ceconomy is the parent company of major European electronics chains MediaMarkt and Saturn. The deal is valued at approximately 2.2 billion euros.

This is the first Chinese acquisition of an EU firm cleared under foreign subsidies rules. Under the agreement, JD.com must conduct transactions with Ceconomy on fair market terms. The Chinese company must also open its European logistics and technology network to competing EU retailers for ten years.

MediaMarkt remains a familiar retail brand across Sweden and Europe. The entry of JD.com brings Chinese retail technology directly into mainstream European stores.