China's JD.com Acquires CECONOMY for €1.34 Billion

Chinese e-commerce company JD.com completed the acquisition of a 59.8% stake in CECONOMY, the German electronics retailer and parent company of MediaMarkt and Saturn, for €1.335 billion on November 12, 2026. The transaction made CECONOMY a subsidiary of JD.com. The acquisition forms a key part of the Chinese company's strategy to expand its physical store network and online electronics retail operations across Europe.

According to a statement released by JD.com, the acquisition was carried out through its indirect German subsidiary, JINGDONG HOLDING GERMANY GMBH. A cash payment of €4.60 per share was made for CECONOMY shares. Combining the 59.8% stake acquired by JD.com with the 25.3% stake held by its partner Convergenta, the partners' total shareholding reached 85.2%.

Following the completion of the transaction, CECONOMY's financial results began to be included in JD.com's consolidated financial statements as of November 12, 2026. The necessary approvals under competition regulations, foreign investment rules, and the European Union's foreign subsidies regulations were obtained to complete the transaction.

CECONOMY Operates More Than 1,000 Stores Across Europe

Germany-based CECONOMY operates more than 1,000 consumer electronics stores across 11 European markets under the MediaMarkt, Saturn, and MediaWorld brands. The company employs more than 50,000 people. According to 2025 figures, the retail group has more than 53 million loyalty program members and records 2.2 billion customer interactions annually.

Through the acquisition, JD.com aims to expand its physical retail infrastructure in Europe while supporting CECONOMY's store network with its own e-commerce, warehousing, and logistics technologies.

According to Reuters, JD.com operates more than 60 logistics centers across Europe. The company plans to integrate its online shopping platform, Joybuy, with MediaMarkt and Saturn stores.

JD.com Aims to Shorten Delivery Times Across Europe

Following the acquisition, the companies aim to develop an omnichannel retail model that combines online and physical sales channels. CECONOMY CEO Remko Rijnders told Reuters that, with JD.com's support, they aim to expand services such as next-day delivery, 90-minute delivery through Uber, and in-store pickup within 30 minutes across Europe.

JD.com CEO Sandy Xu stated that the completion of the acquisition would enable the two companies to begin implementing their joint strategies for technology and consumer electronics retail in Europe.

CECONOMY's Management Structure to Be Maintained

Despite coming under JD.com's control, CECONOMY will continue to operate as a separate company in Europe. The company's existing technology infrastructure is expected to remain independent, while no changes are planned to employee numbers, employment contracts, or store locations.

According to the company's statement, the existing management structure, brand organization, and collective bargaining agreements will be maintained. JD.com also announced that it would continue investing in the MediaMarkt and Saturn brands.

The European Commission granted the final regulatory approval required for the transaction on November 3, 2026. The acquisition was finalized following the completion of foreign investment approvals in Germany, France, Italy, Spain, and Austria.