Jean Housen
The European Commission, the EU's primary antitrust authority, stated that the agreement might diminish competition in the retail sector for electronics and home appliances. The regulator also believes that JD.com might have obtained favorable financing and tax advantages from the Chinese government.
The comprehensive analysis will last up to 90 days and will finish on October 2. Throughout this timeframe, the transaction parties might suggest actions to tackle the regulator's issues, usually involving asset divestitures.
Ceconomy, established in 1996, is based in Düsseldorf. Alongside MediaMarkt and MediaWorld, the company also owns the Saturn retail chain. JD.com finalized a deal to purchase the company in July of the previous year.
JD.com officials mentioned that the firm has not obtained subsidies from China or any countries outside the EU. The purchase of Ceconomy will be funded through a loan from a private bank and will additionally be covered by the company's available resources.
source: ft.com
The comprehensive analysis will last up to 90 days and will finish on October 2. Throughout this timeframe, the transaction parties might suggest actions to tackle the regulator's issues, usually involving asset divestitures.
Ceconomy, established in 1996, is based in Düsseldorf. Alongside MediaMarkt and MediaWorld, the company also owns the Saturn retail chain. JD.com finalized a deal to purchase the company in July of the previous year.
JD.com officials mentioned that the firm has not obtained subsidies from China or any countries outside the EU. The purchase of Ceconomy will be funded through a loan from a private bank and will additionally be covered by the company's available resources.
source: ft.com