JD.com wins EU approval for acquisition of Germany electronic products retailer Ceconomy

BRUSSELS: Chinese e-commerce giant JD.com said it secured conditional EU approval on Tuesday for its $2.5 billion acquisition of German electronics retailer Ceconomy, and aims to close the deal by November 12.

The acquisition will help one of China’s largest retailers to expand outside its home market via Ceconomy-owned electronic products retailers MediaMarkt and Saturn.