The EU Commission Blocks the Sale of MediaWorld to China's JD.com: Is the Deal Funded by China?

The acquisition of Ceconomy, the German holding company that owns MediaWorld, by JD.com is at risk. The operation, valued at 2.2 billion euros, has come under investigation by the European Commission, which believes that JD.com received assistance from the Chinese government in completing the acquisition of Ceconomy, which has over a thousand retail outlets in Europe, including 145 in Italy, under the MediaWorld brand.

Is the EU Going to Stop the Deal?

The operation was finalized last year, but this week the Commission released a statement announcing a new in-depth investigation into possible foreign subsidies that may have made the deal possible.

The statement reads:
"The preliminary investigation indicates that JD.com may have received foreign subsidies that distorted the EU internal market. These include preferential financing, tax incentives, and grants provided by entities potentially linked to the People's Republic of China."

The hypothesis put forward by the Commission has been denied by JD.com, which has already confirmed its intention to complete the acquisition with its own capital and a line of credit from private banks.

The issue will be clarified in relatively short order. The Commission will have 90 working days to decide how to proceed and possibly block the acquisition. The final date to mark on the calendar is October 2, 2026.

For now, we must wait for the outcome of the investigation. The operation is also very significant for the Italian market, where MediaWorld plays a key role in the consumer electronics retail sector.