JD.com acquires Ceconomy for $2.5 billion deal

Chinese e-commerce group JD.com has acquired German electronics retailer Ceconomy in a $2.5 billion deal to establish a leading online retail platform for consumer electronics in Europe. According to company executives, the acquisition will expand JD.com's logistics network and leverage Ceconomy's MediaMarkt and Saturn store branches to offer next-day delivery, 90-minute delivery via Uber, and 30-minute in-store pickup across Europe. Open article →