US EditionChinese E-Commerce Giant JD.com Makes $2.5 Billion Bid To Buy Germany’s Ceconomy
GERMANY, JUL 31 – JD.com will acquire Ceconomy for €2.2 billion, gaining access to about 1,000 stores and expanding its presence beyond China into the European electronics market.
- JD.com is bidding £2.2 billion to acquire Ceconomy at £4.60 per share, with completion expected in the first half of next year.
- The acquisition aims to allow JD.com to expand beyond China and compete with Alibaba Group Holding and Amazon.com.
- Ceconomy confirmed its brands and headquarters will stay unchanged after the acquisition.
- The deal represents a 23% premium over Ceconomy’s traded price of £3.75 on July 23.
Insights by Ground AI
Does this summary seem wrong?
21 Articles
21 Articles
Two of Spain’s most popular online stores, MediaMarkt and Wallapop, have new owners, one Chinese and one Korean company. How will it affect customers?
·Madrid, Spain
Read Full Article
Chinese retailer JD.com is gaining a foothold in Europe with the acquisition of MediaMarkt parent company Ceconomy. Over a thousand electronics stores, 54 of which in the Netherlands, are now Chinese-owned. JD, with an annual turnover of €150 billion, values Ceconomy at €4 billion.
·Amsterdam, Netherlands
Read Full Article
China's JD.com to buy Germany's Ceconomy in deal valuing it at $2.5 billion
JD.com is acquiring Germany's Ceconomy in a deal that values the electronics retailer at 2.2 billion euros ($2.5 billion), allowing one of China's largest online retailers to expand outside of its home market.
·United Kingdom
Read Full Article
Coverage Details
Total News Sources21
Leaning Left2Leaning Right4Center4Last UpdatedBias Distribution40% Center, 40% Right
Bias Distribution
- 40% of the sources are Center, 40% of the sources lean Right
40% Right
L 20%
C 40%
R 40%
Factuality
To view factuality data please Upgrade to Premium
