Germany’s Federal Cartel Office has approved the acquisition of the parent company of MediaMarkt and Saturn by Chinese investors. The regulator announced Thursday that it has cleared the acquisition of Ceconomy AG by the JD.com group.
“JD.com has been active in Germany to a very limited extent thus far” stated Andreas Mundt, head of the Federal Cartel Office. “Consequently, the merger presents few overlaps in terms of competition and raises no concerns from a competition law perspective.
Ceconomy, headquartered in Düsseldorf, specializes in consumer electronics and home appliances, operating primarily under the MediaMarkt and Saturn brands. The company maintains a nationwide network of physical stores and a significant online presence. JD.com, based in Beijing, is China’s largest retailer by revenue, with a strong focus on online retail and e-commerce logistics.
The Federal Cartel Office emphasized that its responsibility is limited to evaluating the competitive impact of mergers. Any considerations related to security policy fall under the purview of the Federal Ministry for Economic Affairs and Energy’s foreign trade law assessment.
