JD.com makes commitments in the MediaMarkt acquisition case

Chinese e-commerce giant JD.com is reported to have offered remedies to the EU in the investigation into its acquisition of Ceconomy, the parent company of electronics retailers MediaMarkt and Saturn.

Measures not specified

Chinese e-commerce giant JD.com has offered remedies as part of the European Union’s investigation into its bid for the German electronics retail chain Ceconomy, according to a document filed with the EU and reported by Reuters. The exact nature of the measures offered was not specified.

The European Commission launched an in-depth investigation into the deal in May, driven by concerns over the rise in Chinese investments. Europe fears that JD.com has received foreign subsidies in the form of favorable financing terms, tax incentives, and subsidies from the People’s Republic of China. JD.com received formal notice regarding this matter last month.

The investigation recently drew criticism from China: last week, the country instructed its companies and institutions not to cooperate with the European investigation into the Chinese e-commerce giant, which Beijing claims is “unlawful.”