JD.com's $2.6 billion Ceconomy Takeover Move Faces In-Depth EU Probe -- Update

By Edith Hancock

The European Union opened an in-depth foreign subsidies probe into Chinese e-commerce giant JD.com's planned $2.6 billion takeover of German retail company Ceconomy.

The European Commission, the EU's executive arm, said Thursday that the deal could potentially distort competition in the bloc's internal market.

In July, JD.com agreed to launch a takeover offer for Ceconomy, with the support of the German company's supervisory and management boards. The offer values Ceconomy at around at around 2.23 billion euros, equivalent to $2.59 billion.

JD.com said that it viewed the in-depth probe as a normal procedural step in the commission's review. "We remain fully engaged in ongoing constructive discussions with the European Commission," the company said.

The EU's competition watchdog has 90 days to look at the deal for potential issues. Companies can also offer remedies to the regulator to ease concerns.

Write to Edith Hancock at [e-mail]

(END) Dow Jones Newswires

05-28-26 0637ET