Companies: Cartel Office approves takeover of Mediamarkt-Saturn

The Federal Cartel Office has no objections to the Chinese company JD.com's acquisition of Europe's largest electronics retailer, Mediamarkt- Saturn . The German competition authority has approved the acquisition of the parent company, Ceconomy, according to Federal Cartel Office President Andreas Mundt.

The Chinese e-commerce giant JD.com wants to become the new majority shareholder in Ceconomy. The offer represents an enterprise value of four billion euros. Mundt said that JD.com has so far only had very limited activity in Germany. "The merger therefore has few competitive points of contact and does not give rise to any concerns under competition law."

The Chinese online retailer JD is taking over Mediamarkt and Saturn. The electronics chain simply failed to modernize its business model. But the new owners are facing similar difficulties themselves.

However, the deal isn't yet a done deal. The Federal Cartel Office is solely responsible for reviewing the competitive effects of mergers and acquisitions. Federal Minister for Economic Affairs Katherina Reiche (CDU) could still veto the deal if she has security concerns.

JD.com had annual sales of nearly $159 billion in 2024. JD.com's well-known strengths include its in-house logistics and technological expertise. Ceconomy generated sales of €22.4 billion in its most recent full fiscal year (ending September 2023/24), nearly a quarter of which came from its online business. At the end of September 2024, the group employed approximately 50,000 people worldwide, including approximately 17,000 in Germany.

The Federal Cartel Office pointed out that Ceconomy operates under its main brands Mediamarkt and Saturn, with a Germany-wide store network and online retail. JD.com, on the other hand, is primarily active in online retail and e-commerce logistics. The Chinese group has so far only operated to a limited extent in Europe, for example, with online shops under the joybuy brand.