JD.com plans to acquire Ceconomy, which includes Europe’s largest electronics retailer, for around €2.2 billion. It already holds 82.5% of the voting rights. German authorities have approved the deal subject to conditions, but the EU is still investigating it.
Under the Foreign Subsidies Regulation, the European Commission is examining whether Chinese state support has given JD.com an unfair competitive advantage in Europe.
Conflict between two legal systems
From mid-August 2026, China is restricting certain companies and individuals from sharing information with EU competition authorities. This could put companies in a difficult position: sharing information with the EU could lead to sanctions in China, while following Chinese rules could result in action from the EU.
Despite this conflict, the takeover is currently unlikely to fail. The EU investigation has been underway for months, meaning much of the relevant information may already be available. China’s intervention therefore appears to be mainly a political signal.
VERE e.V. is in contact with the relevant stakeholders and keeps its members informed of further developments via the “VERE Insider”.
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