JD.com is once again planning to acquire the owner of MediaMarkt

According to Bloomberg, JD.com has already contacted Ceconomy’s management and major shareholders to restart acquisition negotiations. The news caused Ceconomy’s share price to jump significantly, gaining more than 10 percent since the beginning of the year, and due to the takeover rumors, it recorded a further 10 percent increase on Wednesday. The market capitalization of the MediaMarkt owner now exceeds one and a half billion euros.

According to the strategy of the Chinese e-commerce giant, it would offset the challenges in the domestic market by entering the European market. JD.com had previously been interested in British electronics retailer Currys, but ultimately backed out of the deal. The acquisition of Ceconomy could be a major advantage for JD.com, as the German company has nearly a thousand physical stores across Europe, which could complement the Chinese company’s logistics network.

Although negotiations are at an advanced stage, the acquisition is not yet final. The market will continue to monitor developments, as a successful acquisition could significantly reshape the European electronics retail sector.