EU clears JD.com's €2.2 billion takeover of MediaMarkt owner Ceconomy

What JD.com gets

Beyond its best-known brands, Ceconomy operates in Italy as MediaWorld. The network exceeds 1,000 stores and employs around 50,000 people. Through its offer, JD.com has secured 59.8% of the capital for about €1.3 billion, while Convergenta, linked to the founding family, keeps 25.35%. Under an agreement between the two shareholders, JD.com will hold voting rights corresponding to a combined 85.2% stake after closing.

JD.com is already building a European presence: in March 2026 it launched Joybuy in six countries on the continent. Ceconomy would add a physical store network to its online sales and logistics expertise.

Conditions set by Brussels

The Commission reviewed the deal under the Foreign Subsidies Regulation, which aims to prevent non-EU government support from distorting competition in the single market. It identified preferential financing, tax incentives and subsidies JD.com received from China that helped build its logistics and technology capabilities. According to the Commission, these advantages could let the group finance its activities and apply aggressive pricing to the detriment of European rivals.

To win approval, JD.com committed to conduct economic dealings with Ceconomy, including financing, on market terms. It must also offer its warehousing and logistics services to other retailers, and its technology services to third parties, on the same terms as for its new subsidiary. The commitments last ten years, with an independent monitor overseeing compliance under the Commission's supervision.

For shoppers, the agreement provides for keeping the brands for five years and, for three years, restricts buyer-driven layoffs for operational reasons and store closures, with exceptions. JD.com also plans to use its technology and logistics to widen the product range and speed up deliveries, goals whose results remain to be seen.