The European Commission has cleared the Chinese e-commerce company’s acquisition of the German electronics retailer, provided JD.com complies with the remedies offered.
The European Commission said on 3 November that it had approved JD.com’s acquisition of Ceconomy, provided the Chinese e-commerce company complies with the remedies offered. The acquisition of the German electronics retailer is worth $2.5 billion.
The decision follows an investigation under the Foreign Subsidies Regulation. The Commission examined whether JD.com received preferential financing, tax incentives and grants from the Chinese government that might have helped it offer a higher price for Ceconomy, Reuters said.
JD.com can proceed with the acquisition subject to compliance with the remedies.
Consumer prices rose 0.9% from September, with clothing and footwear recording the sharpest monthly increase.
2 min
The state-owned oil company’s profit rose by more than a third from a year earlier as higher oil prices offset disruption caused by the war involving Iran.
1 min
CISPE says the confidentiality ruling removes an immediate obstacle to its challenge to the approval of Broadcom’s VMware acquisition; it does not decide the merits of the case.
2 min
