EU Probes Deal that Would Give Chinese Retailer a Stake in France's Fnac Darty
- On Thursday, the European Commission launched an in-depth investigation into Jingdong's proposed €2.2 billion takeover of German electronics retailer Ceconomy, examining whether foreign subsidies distorted the acquisition.
- The probe, conducted under the Foreign Subsidies Regulation, targets potential "preferential financing, tax incentives and grants" from China that officials suspect gave Jingdong an unfair competitive advantage.
- Ceconomy owns MediaMarkt, Saturn, and MediaWorld chains plus a 22 percent stake in Fnac Darty. Beijing-based Jingdong rejected subsidy concerns, stating the acquisition is financed "by bank loans and cash from our ordinary activities."
- The commission "now has 90 working days, until 2 October 2026, to take a decision." Jingdong has already secured merger and foreign investment clearances in France, pledging to remain a "sleeping" shareholder in Fnac Darty.
- This investigation marks the first time a Chinese deal faces scrutiny under these rules. The Chinese Chamber urged Brussels to distinguish between legitimate business strengths and market distortions as Jingdong pursues global expansion.
40 Articles
40 Articles
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The European Commission is examining the proposed acquisition of MediaMarktSaturn, the electronics specialist, by the Chinese e-commerce group JD.com.
EU probes deal that would give Chinese retailer a stake in France's Fnac Darty
The European Union has opened an investigation into Chinese e-commerce giant JD.com’s proposed €2.2 billion takeover of German electronics retailer Ceconomy, which is the second-largest shareholder of French group Fnac Darty. Regulators suspect the bid may involve Chinese subsidies.
Europe's largest electronics retailer is to change owner. Chinese trading group JD.com wants to secure MediaMarktSaturn. Several authorities are investigating - also for government funds.
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