JD.com Nears EU Approval for Ceconomy
Chinese e-commerce giant JD.com is reportedly on track to secure EU approval for its $2.5 billion bid for German retailer Ceconomy. The company improved its proposed remedies following feedback from regulators and rivals regarding market access.
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JD.COM INC-CLASS A is set to secure European Union approval for its $2.5B acquisition of CECONOMY AG following revised remedy proposals, a person familiar with the matter said Thursday morning. The deal marks one of the largest retail expansions by a China-based firm into the European market. Securing clearance allows the buyer to absorb prominent Germany-owned electronics chains MediaMarkt and Saturn.
