Ceconomy Jumps 4.2% as JD.com Nears EU Approval for EUR2.4 Billion Takeover

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Summary · why it matters

Ceconomy AG rose 4.2% in German trading on a report that JD.com is nearing approval from the European Commission for its planned EUR2.4 billion acquisition of the German electronics retailer, while JD.com shares gained 1.2%. According to traders citing a Dealreporter item circulating Wednesday, JD.com is expected to soon win approval under the EC's EU Foreign Subsidies Regulation, with the regulator set to clear the deal on the basis of JD.com's improved remedy proposal. The transaction still requires approval in Austria under its foreign direct investment review, the final clearance needed to complete the deal. JD.com, Ceconomy, and the EC declined to comment to Dealreporter. The EC opened an in-depth probe into the deal in May to assess whether JD.com received Chinese government support that enabled it to bid more aggressively for Ceconomy, and in July JD.com reportedly received a formal notice from the EC over concerns related to the transaction.

Impact on assets 2

Consumer Discretionary▲ · 2 stocks
Jd Com Inc
9618
▲ PositiveRegulationrelevance

JD.com is nearing European Commission approval under the EU Foreign Subsidies Regulation for its EUR2.4 billion takeover of Ceconomy, with the regulator set to clear the deal based on improved remedies.

Ceconomy AG
CEC
▲ PositiveRegulationrelevance

Ceconomy shares jumped as JD.com nears EU antitrust/Foreign Subsidies Regulation approval for its EUR2.4 billion acquisition of the German electronics retailer.

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