Planned takeover: China threatens EU in dispute over JD.com
The EU is checking whether JD.com has unfair advantages from subsidies in the planned takeover of Ceconomy. Peking announces countermeasures.
China has threatened the European Union with countermeasures over its investigation into the planned takeover of Ceconomy, the media giant MediaMarkt and Saturn parent company, by Chinese e-commerce giant JD.com. If the EU persists in its actions, Beijing has declared it determined to respond, stated the Chinese Ministry of Justice.
Simultaneously, Beijing prohibited organizations and individuals from supporting the EU in specific inquiries in China. The Ministry of Justice accused Brussels of demanding extensive and unnecessary information from China. The EU is reviewing the potential takeover, which JD.com denies, valuing Ceconomy at approximately 2.2 billion euros.
The Düsseldorf-based group includes MediaMarkt and Saturn. The Federal Cartel Office has already cleared the takeover, separate from the EU's review.
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