Chinese group JD.com has acquired an 85.2% stake in Germany’s Ceconomy, the holding company that controls the MediaMarkt (MediaWorld in Italy) and Saturn retail chains, in a deal worth €2.2 billion, according to several specialist trade publications.

Around 60% comes from JD.com’s takeover bid, with the remainder resulting from an agreement with Convergenta, the Kellerhals family’s holding company, which will retain a 25.35% stake. The company announced it in a statement.

Germany’s federal antitrust authority gave its approval in September, noting that JD.com had previously been 'active in Germany only to a very limited extent.'

However, according to Ceconomy, completion of the public tender offer is still subject to approval by the relevant foreign trade authorities and to approval und

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