JD.com takes control of German electronics chain Ceconomy

JD.com completed its acquisition of a 59.8% stake in German consumer electronics retailer Ceconomy for 1.3 billion euros through its German subsidiary. The deal received clearances for merger, foreign investment, and European Union foreign subsidies, making Ceconomy a subsidiary of JD.com. Ceconomy will operate as a standalone business in Europe while retaining independent local technology systems and its existing workforce and sites. Open article →