Ceconomy

The European Commission has approved JD.com’s takeover of Ceconomy (MediaMarkt‑Saturn) subject to conditions intended to prevent potential competitive distortions from Chinese subsidies. JD.com and Ceconomy must ensure intra‑group transactions, particularly financing, are conducted on market terms to rule out cross‑subsidisation; the commitments apply for ten years. With the clearance, the conditions for completing the roughly €2.2 billion transaction are met; additional national conditions concern areas such as data protection and control rights. » More on n-tv.de

Ceconomy reports preliminary adjusted EBIT of €515 million for fiscal year 25/26, up 27%, with revenue rising 5.3% to €24.0 billion. Strong contributions came from household appliances as well as IT and mobile devices; the fourth quarter was the 15th consecutive quarter of profitability growth. Ceconomy operates 1,068 stores in eleven countries and is targeting around €800 million in adjusted EBIT for 2028/29. Final figures are due to be published on December 14; the planned takeover by JD.com is still awaiting EU approval. » More on finanzen.net

The Chinese online retailer JD.com has been making an offer for Ceconomy since 2025 and the transaction still depends on approvals from the EU and an investment review in Austria; the offer deadline ends on November 10, after which the deal would lapse. Ceconomy CEO Remko Rijnders stresses that operations will continue, investments will be maintained and the target of around €500 million in operating profit for 2026 should be reached. After completion Ceconomy is to be taken off the stock market and management aims to raise operating profit to €800 million by 2029; job cuts are not contractually envisaged by JD.com. » More on t-online.de

Ceconomy CEO Remko Rijnders says the takeover by JD.com must be approved by Nov. 10, otherwise the deal will lapse. Two procedures remain outstanding: an EU Commission review of possible Chinese subsidies and an Austrian investment screening. Rijnders stresses that operations continue, Ceconomy will meet its profit targets for 2026, and if the deal is completed the company is to be taken off the stock exchange to raise operating profit to €800 million by 2029. » More on t-online.de

The Chinese government has banned companies from providing the European Commission with further information on JD.com’s takeover of Ceconomy (MediaMarkt‑Saturn), criticizing the information requests as unlawful extraterritoriality. The EU has been investigating since May whether foreign subsidies may have advantaged JD.com; many documents have already been submitted. The probe’s deadline runs until 23 October, while a parallel consultation process between Beijing and Brussels continues until the end of October. Through a voluntary offer JD.com holds around 60% of the shares; including agreements with major shareholders the buyer currently controls 82.5%. The transaction is valued at about €2.2 billion. » More on faz.net