Ceconomy CEO Anticipates EU Scrutiny of JD.com's Proposed Takeover Plans

Ceconomy CEO Kai-Ulrich Deissner announced on Thursday that the European Union’s competition authorities are expected to review JD.com's takeover plans due to the size of the transaction, which places it under Brussels’ jurisdiction rather than Germany's cartel office. The Chinese e-commerce giant JD.com is acquiring German electronics retailer Ceconomy in a deal valued at €2.2 billion ($2.5 billion). Deissner emphasized that the partnership will enable Ceconomy to accelerate growth and access cutting-edge technologies. The acquisition marks JD.com’s significant move to expand its operations beyond China into the European market.