Liu Qiangdong Wants to Take over Mediamarkt-Saturn. Who Is the Man?

Sueddeutsche Zeitung

Lean Left

Factuality

Ownership

In China, his company brings millions of packages to the destination every day. Now he wants to set up Europe's technology markets. What you can say: he doesn't find cheap at all.

Biznis Info

Factuality

Ownership

One of the largest takeovers of electronics retailers in Europe has taken place. The German company Ceconomy, owner of the well-known chains MediaMarkt and Saturn, has ended up in the hands of the Chinese retailer JD.com. The Chinese will pay 7 percent more than the market value for each Ceconomy share, which is about 4.6 euros. Ceconomy generates about 22.4 billion euros in annual revenue, of which 5.1 billion through online sales. The takeover…

Confidencial Digital

Factuality

Ownership

JD.com has officially purchased 57.1 % of Ceconomy, a matrix of MediaMarkt and Saturn, with an offer of 4.60 euros per share, 23 % on its previous quote. The operation, valued at 2.5 billion dollars, makes the Asian giant the new owner of the largest consumer electronics chain in Europe. The sale of 80,000 bitcoins changes the direction of the price: detail is key Europe, with 450 million consumers and a stable regulatory environment, thus becom…