DUESSELDORF (Reuters) -Ceconomy expects EU competition authorities to examine JD.com's plans to take it over, said the German company's CEO, Kai-Ulrich Deissner, on Thursday. Given the size of the
Ceconomy CEO Anticipates EU Scrutiny of JD.com Acquisition Plans
EU Review of JD.com Acquisition
DUESSELDORF (Reuters) -Ceconomy expects EU competition authorities to examine JD.com's plans to take it over, said the German company's CEO, Kai-Ulrich Deissner, on Thursday.
Details of the Acquisition
Given the size of the transaction, the plans are expected to fall under the purview of Brussels rather than Germany's federal cartel office, added Deissner in a conference call.
Implications for Ceconomy and JD.com
With its Chinese partner, Ceconomy will be able to grow faster and gain access to leading technologies, he added.
JD.com is acquiring Germany's Ceconomy in a deal that values the electronics retailer at 2.2 billion euros ($2.5 billion), allowing one of China's largest online retailers to expand outside of its home market.
(Reporting by Matthias Inverardi, Writing by Miranda Murray; editing by Matthias Williams)
