Austria approves JD.com takeover of MediaMarkt parent Ceconomy with security conditions

Austria's economic ministry has authorized JD.com’s bid to acquire Ceconomy, the German owner of MediaMarkt, but only after imposing stringent safeguards on data, supply-chain integrity and security-related staffing choices, according to a statement by Minister Wolfgang Hattmannsdorfer. He emphasized the importance of protecting national sovereignty during periods of geopolitical strain. MediaMarkt is Europe’s largest specialist retailer for consumer electronics and household appliances, operating 56 outlets in Austria and employing a sizable workforce.

The European Commission has been examining the transaction for some time and will issue its final ruling later this year. The acquisition has already cleared investment-control reviews in France, Italy and Germany, with the German ministry granting its approval at the end of June. JD.com submitted a revised application to the Austrian ministry in July after withdrawing an earlier request in April.