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Ceconomy CEO expects EU to conduct review of JD.com's takeover plans
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Ceconomy CEC expects EU competition authorities to examine JD.com's
89618 plans to take it over, said the German company's CEO, Kai-Ulrich Deissner, on Thursday.
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.
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.
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