Italy gives conditional green light to JD’s takeover of Ceconomy
Italy has conditionally approved Chinese e-commerce giant JD.com’s $2.5bn takeover of German electronics retailer Ceconomy, according to a parliamentary document released on Thursday. The decision was made under Italy’s “golden power” rules, which allow the government to impose conditions on deals involving strategic national assets.
The approval means MediaMarkt and Saturn stores in Italy—operating under the MediaWorld brand—will come under JD.com’s control once the transaction is completed. Rome’s cabinet imposed a set of unspecified “prescriptions” on November 24 to clear the deal, though details have not been publicly disclosed, News.Az reports, citing Reuters.
JD.com, a major competitor to Alibaba and Amazon, has been expanding its global presence as Chinese firms increasingly look to European markets amid shifting U.S. trade dynamics under President Donald Trump’s tariff policies. European governments have grown more cautious, worried that China is redirecting low-cost goods to the EU as access to the U.S. market becomes more challenging.
Under the agreement, JD.com’s subsidiary Jingdong Holding Germany will acquire at least 31.74% of Ceconomy, strengthening the Chinese group’s foothold in Europe’s consumer electronics sector.
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