JD.com seeks EU clearance for $2.5bn Ceconomy acquisition
JD.com has received indications that the European Commission may approve its $2.5bn bid to buy Germany’s Ceconomy, with a decision expected by 4 November. The Commission is reviewing the deal under the Foreign Subsidies Regulation, which examines whether Chinese state aid gave JD.com an unfair advantage in its offer for Ceconomy. In August JD.com offered Ceconomy access to its European logistics and technology platforms at market rates, and after feedback from rivals it strengthened those commitments.
The investigation started after a May 2026 preliminary review flagged possible Chinese subsidies, prompting the EU to open an in‑depth probe. In July 2026 the Commission issued a formal statement of grounds outlining its objections to the JD.com‑Ceconomy tie‑up. On 19 August 2026 China’s Ministry of Justice and Ministry of Commerce ordered domestic firms not to assist the EU investigation. The order covered any company that might provide legal, financial or advisory support to the probe. If cleared, the acquisition would let JD.com use Ceconomy’s MediaMarkt and Saturn stores as a springboard into Western Europe. JD.com says it would provide access to its logistics network and technology platforms to Ceconomy and to any smaller rival that requests it, on non‑discriminatory terms. The firm first approached Ceconomy about a voluntary takeover in July 2025, and talks have continued amid the regulatory review. The source told Reuters that JD.com strengthened its remedy package after listening to market rivals and customers. JD.com’s amended remedy package maintains that the access offered to Ceconomy and competitors will be priced at prevailing market rates to avoid any appearance of state aid.
Discussions between JD.com and Ceconomy about a voluntary takeover began in July 2025. In May 2026 the EU launched an in‑depth inquiry after a preliminary review flagged possible Chinese subsidies. On 19 August 2026 China’s ministries barred domestic firms from assisting the invest
What we know
$2.5bn purchase amount
Decision expected by 4 November
May 2026 preliminary evaluation
July 2026 statement of grounds
19 August 2026 China order