The European Commission is intensifying its scrutiny of JD.com’s proposed acquisition of Ceconomy, the parent company of MediaMarktSaturn, by investigating whether the Chinese e-commerce giant utilized state aid to finance the transaction.
The probe represents a significant escalation in the regulatory review process, casting a shadow over the deal’s finalization despite earlier green lights from national authorities.
According to reports from Wiwo, Brussels suspects that JD.com leveraged state subsidies to support the billion-euro purchase.
The European Commission has formally communicated these concerns to JD.com, signaling that the deal faces substantial hurdles at the EU level.
This development introduces a new layer of complexity to the transaction, which had previously cleared the most critical national hurdle.
The German Federal Ministry for Economic Affairs and Climate Action had already granted final approval for the acquisition, recognizing JD.com’s bid to take control of Europe’s largest specialist electronics retailer.