Chinese e-commerce giant JD.com is in advanced talks to acquire Ceconomy, the German parent company of MediaMarkt and Saturn, for €2.2 billion. The deal could significantly expand JD.com's footprint in Europe’s consumer electronics market.
JD.com, one of China’s largest online retailers, is in advanced discussions to acquire Ceconomy, the German parent of MediaMarkt and Saturn, in a deal worth approximately €2.2 billion. If successful, the acquisition would give JD.com access to more than 1,000 electronics stores across Europe, including over 50 MediaMarkt locations in Belgium and the Netherlands.
Ceconomy confirmed that JD.com is considering a cash offer of €4.60 per share, but noted that no binding agreement has been signed. Frankfurt-listed Ceconomy shares rose 12% on Thursday, closing at €4.20.
With annual revenues of €22.4 billion and around 50,000 employees, Ceconomy is a major player in the European electronics retail sector. It has increasingly shifted towards online sales—an area where JD.com excels. The potential acquisition reflects JD.com's strategy to expand internationally as domestic growth slows in China.
Reports of JD.com’s interest in Ceconomy first surfaced earlier this year. The company had also explored a takeover of UK-based Currys in 2024 but eventually withdrew.
For Belgian and Dutch consumers, the deal could accelerate innovation in omnichannel retail and logistics, areas where JD.com has substantial expertise. The move also reflects growing Chinese interest in European retail assets amid shifting global market dynamics.
