Bundeskartellamt Green-Lights JD.com's Acquisition of Ceconomy

The Federal Cartel Office has no competition law concerns regarding a takeover of MediaMarkt/Saturn parent company Ceconomy by Chinese company JD.com. Concerning potential security policy aspects are subjekt to review by the Federal Ministry for Economic Affairs and Energy.

In the summer, Chinese retailer JD.com made a public offer for Ceconomy, the parent company of electronics retailers MediaMarkt and Saturn, one of the few remaining brick-and-mortar retailers for computer and video games in Germany and once the number one in Germany when it comes to game sales.

On September 11, the Management Board and Supervisory Board of Ceconomy commented on the offer and, in a joint statement, declared the offered price to be fair and reasonable and recommended that all shareholders accept the offer. The deadline for accepting the offer is November 10, 2025, end of day.

However, the potential takeover cleared a hurdle today. The Bundeskartellamt (German Federal Cartel Office) stated in a statement that it has no concerns about the takeover plans from a competition law perspective. "JD.com has so far been active in Germany only to a very limited extent. The merger thus involves parties with only insignificant competitive overlap and does not give rise to any competition concerns," Andreas Mundt, President of the Bundeskartellamt, stated.

Nevertheless, the Federal Cartel Office pointed out that it only examines possible competition law concerns. "Any potential security policy aspects under foreign trade law are subject to review by the Federal Ministry for Economic Affairs and Energy," according to the Bundeskartellamt's press release.

It is impossible to predict whether a takeover by JD.com would have any impact on the product range of the MediaMarkt and Saturn retail chains, and if so, what that impact would be. Both brands offer a comprehensive range of products from many different categories, including games. In the gaming sector in particular, MediaMarktSaturn is breaking new ground with Xperion, a concept that combines retail space with event areas and relevant content.

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