China’s Ministry of Justice warned the European Union on Tuesday that it would take decisive action if Brussels maintained its review of JD.com’s proposed €2.2 billion acquisition of Ceconomy, the parent company of MediaMarkt and Saturn.
The ministry stated that Beijing would prohibit Chinese organizations and individuals from cooperating with EU requests for information in the ongoing investigation. It accused the European Commission of demanding excessive and unnecessary data from China, though it did not specify the nature of the requests.
The EU launched its deeper probe into the deal in May, focusing on whether JD.com had received distortive subsidies from Chinese authorities. The investigation centers on potential benefits such as low-cost financing, tax incentives, and grants that could unfairly advantage the Chinese e-commerce giant in the transaction. JD.com has rejected these concerns, asserting that the deal complies with all regulatory standards.
The proposed takeover values Ceconomy at approximately €2.2 billion. While Germany’s Federal Cartel Office has already cleared the acquisition, the EU’s review remains a separate process with no guaranteed outcome. The Commission has not indicated a timeline for its decision, which could further delay or alter the transaction.
