Chinese e-commerce giant JD.com has launched a €4.60-per-share takeover offer for Ceconomy, MediaMarkt’s parent, marking one of the largest Chinese acquisitions in Europe since Tencent’s €1.5 billion purchase of Techland.
JD.com’s €2.2 billion offer for Ceconomy represents a 23 percent premium over Ceconomy’s share price before takeover rumours surfaced. Backed by Ceconomy’s management and supervisory board, the proposed deal would become the largest Chinese acquisition of a European retailer in years, eclipsing Tencent’s €1.5 billion purchase of Polish game developer Techland in 2024.
Ceconomy operates over 1,000 stores across Europe—under the MediaMarkt and Saturn brands—and reported revenue of €22.4 billion in fiscal year 2023–2024, with roughly 25 percent generated online. If the transaction closes, JD.com would gain a leading foothold in Europe’s consumer electronics market, leveraging MediaMarkt’s extensive brick-and-mortar network alongside its own digital commerce expertise to turbocharge cross-border retail services for Belgian and other European consumers.
