If you live in Spain or most of Europe, you probably know MediaMarkt. their Electronic storeAlong with these characteristic red and white signs, many are part of the city’s commercial landscape. It is easy whether you have entered one of them to buy a mobile phone, a computer or just to take a look at the latest technological developments The one you’re probably less familiar with is the JD.com name, a Chinese e-commerce giant that’s about to take over the company behind those stores.
The decisive move came from Brussels. This November 3, the European Commission approved the acquisition of German group Ceconomy, which owns MediaMarket and Saturn, with conditions. The offer, announced in July 2025, sets the price per share at 4.60 euros and values the entire capital at around 2.2 billion euros, about 2.5 billion dollars, a figure that does not correspond to the actual cost of the buyer. European approval clears the last pending regulatory hurdle, but doesn’t mean the purchase is already complete. The Chinese company expects to close the transaction after November 12.
To understand the scope of this acquisition, it’s worth looking beyond the MediaMarkt name. In addition to the aforementioned chains, Ceconomy operates in Italy under the Mediaworld brand, within a network that exceeds 1,000 establishments and employs approximately 50,000 people. Regarding the property, JD.com has secured 59.8% of the capital through an offer of around 1.3 billion euros, while Convergenta, linked to the founding family, will hold 25.35%. Thanks to the agreement between both shareholders, the voting rights corresponding to the joint participation of 85.2% will be assigned after the closure of the Chinese group operations.
A Chinese expansion under European conditions
JD.com isn’t exactly a small company looking to make its way outside of China. We are talking about a big name in electronic commerce in the Asian country, which has its own significant storage and distribution infrastructure. Its arrival in the European market does not start with this acquisition: in March 2026, Joyboy was launched in six countries on the continent. Now, his interest in Sieconomy responds to a commercial rationale: complement his experience in online sales and logistics with a network of physical establishments that already have a presence and recognition among European consumers.
The operation, however, also raised concerns in Brussels. The Commission examined this under the Foreign Subsidy Regulation, a regulation that seeks to prevent aid from governments outside the EU from being distorted. Competition in community markets. In his investigation, he identified preferential financing, tax incentives and subsidies received by JD.com from China, which contributed to the development of its logistical and technological capabilities. According to the company, these benefits can strengthen the group’s ability to finance its activities and implement aggressive pricing policies to the detriment of other European competitors.
To get European approval, the buyer had to make a series of promises. Among them, guarantees that economic activities with economies, including financing, are conducted under market conditions without artificial advantages derived from aid received. It must also offer its storage and logistics services to other retailers, and its technical services to third parties, on the same terms as its new subsidiary. These obligations will remain in force for ten years and an independent supervisor will monitor compliance under the supervision of the European Commission. With them, Brussels wants to prevent foreign subsidies from translating into unfair competitive advantages within Europe.
For those of us who regularly shop at MediaMarket, the question is what will change from now on. Thinking about the deal Maintain the brand for five years and establishes, for three years, restrictions on layoffs for operational reasons and closings of establishments operated by purchasers, although there are exceptions. JD.com intends to leverage its technological and logistics infrastructure to expand product offerings and improve delivery times, the results of which remain to be seen. What this operation reflects is the interest of the Chinese giant to strengthen its presence in the European trade, this time relying on a network of stores that customers already know.
Picture | James Jeremy Bakers
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