China’s JD.com receives final approval to acquire MediaMarkt and Saturn

Chinese e-commerce giant JD.com has been cleared to acquire MediaMarkt’s parent company, Ceconomy. The European Commission has granted the final necessary approval. Nothing now stands in the way of the deal, so the transaction should be finalized within a few days.

Chinese technology and logistics

The European Commission has approved JD.com’s acquisition of Ceconomy under the Foreign Subsidies Regulation (FSR), the European regulation designed to prevent distortions of competition caused by foreign subsidies. Germany, France, Italy, Spain, and Austria had already given their approval. According to both companies, all conditions have now been met to finalize the transaction within a few days.

This gives JD.com access to one of Europe’s largest electronics retailers. Ceconomy, the parent company of MediaMarkt, Saturn, and MediaWorld, has more than 1,000 stores in eleven countries and approximately 50,000 employees.

For JD.com, the acquisition represents a significant step in its European expansion: the Chinese group is combining its expertise in technology, logistics, and digital platforms with Ceconomy’s extensive physical store network and brand recognition.

“Faster deliveries, wider product range”

The new owner aims to accelerate MediaMarktSaturn’s omnichannel strategy. According to the companies, consumers can expect a wider product range, faster deliveries, and new technological applications. “Our partnership with JD.com is becoming a reality, and a new chapter is about to begin,” says Remko Rijnders, CEO of Ceconomy. “We can now move from strategic vision to concrete implementation.”

JD.com emphasizes that Ceconomy will retain its existing business model and strategy. The current management will also remain responsible for day-to-day operations. The Chinese group says it has also made binding commitments to protect the interests of employees, brands, and stores.

“Our ambition is to support Ceconomy in accelerating its growth in a sustainable manner, to further strengthen its competitive position in Europe, and to continue innovating in a changing retail market,” says Sandy Xu, CEO of JD.com.