European Commission approves JD.com’s acquisition of Ceconomy — Der Spiegel

The European Commission has approved the acquisition of Germany’s Ceconomy — the parent company of the MediaMarktSaturn chain — by Chinese online retailer JD.com. The decision was made subject to commitments intended to prevent distortions of competition in the EU single market, Der Spiegel reports.

Commitments for JD.com and Ceconomy

The European Commission had previously expressed preliminary concerns that JD.com may have received direct state support, tax benefits and cheap loans in China. The regulator examined whether such possible advantages enabled the company to offer a higher price for Ceconomy and whether the deal could create distortions of competition.

To address these concerns, JD.com and Ceconomy committed to conducting transactions between themselves only on market terms. This also applies to the funds that JD.com will provide to its future subsidiary. In the European Commission’s view, these conditions should fully and effectively eliminate the risks of competition distortions and prevent cross-subsidisation of Ceconomy by JD.com.

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The conditions will apply for ten years

JD.com also committed to providing warehouse and logistics services to other companies in the EU on the same terms as to Ceconomy. All commitments will remain in force for ten years.

Germany’s Federal Cartel Office had already approved the deal in September 2025, noting that JD.com had only a limited presence in Germany at that time. Ceconomy, which includes MediaMarktSaturn Retail Group, was formed in 2017 after being spun off from Metro. JD.com made its takeover offer last summer and later obtained a majority of Ceconomy shares.