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Consumer TechDeal: ~EUR 1.34B (~US$1.5B)

JD.com completes its takeover of German electronics retailer Ceconomy for about EUR 1.34 billion

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China Daily
JD.com
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JD.com said it completed a EUR 1.34 billion (US$1.5 billion) acquisition of a controlling stake in Ceconomy, owner of MediaMarkt and Saturn. With partner Convergenta, which keeps 25.3%, the two now hold 85.2%. Ceconomy runs over 1,000 stores in 11 European markets, is consolidated from 12 November and stays standalone. A UK outlet cites US$2.5 billion, which conflicts with China Daily.

Read original ↗Source: China Daily · Opens the source in a new tab

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