JD.com’s proposed $2.5 billion takeover of German electronics retailer Ceconomy is expected to receive European Union approval after the Chinese company revised commitments addressing regulatory concerns, according to a Reuters report cited by IT Home. The European Commission is due to decide on the transaction by November 4.
Ceconomy owns the MediaMarkt and Saturn retail chains. The EU’s review under its Foreign Subsidies Regulation examined whether preferential financing, tax benefits or government support gave JD.com an advantage in the acquisition. JD.com’s revised commitments include providing Ceconomy with European logistics and technology services at market prices and allowing smaller competitors access on fair, non-discriminatory terms. [IT Home, in Chinese]