Ceconomy AG, the German retail group behind Europe’s leading electronics chains MediaMarkt and Saturn, has confirmed it is in advanced negotiations with JD.com, one of China’s largest e-commerce companies. The potential deal, still in the exploratory phase, could see the Asian tech giant make a purchase offer valued at approximately €2.2 billion.
In an official statement, Ceconomy revealed that JD.com is evaluating the possibility of submitting a formal bid, but clarified that no binding offer has been made and that a final decision is still pending. The news was first reported by the retail industry outlet RetailDetail.
Sources close to the matter indicate that JD.com is considering an offer of €4.6 per share, bringing the total value of the acquisition to around €2.2 billion. If completed, the transaction would mark a major move in JD.com's international expansion strategy and grant the Chinese firm access to Ceconomy's vast European retail footprint.
Ceconomy operates over 1,000 physical stores across Europe under the MediaMarkt, Saturn, and Deutsche Technikberatung brands, giving JD.com a solid omnichannel platform for reaching European consumers.
This acquisition would align with JD.com's broader internationalization strategy, especially at a time when e-commerce growth in China is slowing. By integrating Ceconomy’s extensive retail network, JD.com could distribute Chinese-manufactured tech products in Europe, capitalizing on MediaMarkt and Saturn’s competitive pricing and well-established customer base.
According to D/A Retail, talks between JD.com and Ceconomy resumed in 2025, after initial discussions were held in 2023. While Ceconomy declined to confirm the earlier approach, industry insiders suggest that negotiations have been ongoing for some time.
A potential takeover would require the support of Ceconomy's largest shareholders. Three influential family groups — Haniel (16.7%), Beisheim, and Schmidt-Ruthenbeck — collectively hold around one-third of the company’s shares. The Haniel group, in particular, is considered instrumental in determining the company’s strategic direction.
Additionally, the heirs of MediaMarkt founder Erich Kellerhals control roughly 30% of Ceconomy’s shares, forming another critical bloc. For any acquisition to proceed, JD.com would need to align the interests of these two powerful shareholder groups.
If the deal goes through, JD.com would gain a formidable foothold in Europe’s consumer electronics market and potentially redefine the competitive dynamics in omnichannel retailing. The move could also serve as a blueprint for other Chinese tech giants looking to diversify beyond domestic borders.
With the European market ripe for transformation and omnichannel strategies becoming increasingly important, JD.com’s interest in Ceconomy underscores the growing strategic importance of retail infrastructure in the e-commerce era.
