Chinese e‑commerce group JD.com has launched a voluntary cash offer to acquire German retailer Ceconomy at €4.60 per share, putting the equity valuation at around €2.2 billion.

JD.com and Ceconomy have confirmed that talks are at an advanced stage, though no binding agreement has been signed .

Ceconomy owns the MediaMarkt and Saturn electronics chains, operating more than 1,000 stores across Europe and employing roughly 50,000 people.

The company recorded approximately €22.4 billion in sales during its 2023‑24 fiscal year, with roughly a quarter of revenue derived from online operations .

The proposed offer represents a premium of about 23 percent over Ceconomy’s closing share price prior to reports of the bid.

Shares surged in response following the announcement, while JD.com’s own stock declined modestly .

JD.com previously explored acquiring UK electronics chain Currys in early 2024, but withdrew from those talks.

The current bid aims to leverage Ceconomy’s established offline retail footprint and brand recognition to support JD.com’s broader expansion into European consumer electronics retail and e‑commerce .

Key shareholders—including the Kellerhals family (founders of MediaMarkt) and the Haniel family—control significant blocks of Ceconomy stock and have not yet publicly commented.

The outcome of shareholder discussions remains central to deal progression .

Ceconomy’s chief executive stated that the acquisition will be reviewed by European Union competition authorities, rather than Germany’s national regulator, due to its scale.

The completion of the transaction is expected to depend on regulatory approvals and shareholder consent .

If completed, the takeover would represent one of the largest recent Chinese acquisitions in European retail, combining JD.com’s logistics and digital expertise with Ceconomy’s physical stores and ecommerce presence .