ROME, November 27, 2025 – Italy’s government has granted conditional approval to the acquisition of German electronics retailer Ceconomy AG by Chinese e-commerce giant JD.com. This approval, revealed in a recent parliamentary document, marks a significant step in JD.com’s expanding footprint in the European consumer electronics market.

Under Italy’s so-called “golden power” legislation, the government retains the right to block or impose conditions on both domestic and foreign investments that affect the country’s strategic assets. This law allows Rome to ensure that key sectors, including technology and retail, remain protected while balancing foreign investment interests.

The Deal at a Glance: JD.com and Ceconomy

The transaction, valued at approximately $2.5 billion, involves JD.com acquiring a significant stake in Ceconomy, Europe’s largest consumer electronics retailer. Ceconomy operates renowned brands such as MediaMarkt and Saturn, which are also active in Italy through the MediaWorld retail chain.

According to the Italian parliamentary document, JD.com, via its subsidiary Jingdong Holding Germany, will acquire at least 31.74% of Ceconomy. Italy’s cabinet has reportedly imposed unspecified “prescriptions” as conditions for completing the transaction, a step likely aimed at safeguarding strategic economic interests.

JD.com’s Global Expansion Strategy

JD.com has been aggressively expanding its global footprint in recent years, competing directly with major players such as Alibaba and Amazon. By investing in European retail, JD.com aims to diversify its markets and leverage the growing demand for consumer electronics in Europe.

European Concerns About Chinese Investments

Italy’s approval of the takeover comes amid broader European concerns over Chinese economic influence. Many EU capitals have expressed alarm at China’s practice of diverting goods at lower prices to European markets—a strategy seen as compensating for losses in U.S. trade due to tariffs implemented during the Trump administration.

European regulators are increasingly scrutinizing Chinese investments in strategically important sectors, including technology, logistics, and retail, highlighting the balance between welcoming foreign investment and protecting domestic markets.

What This Means for Italian Consumers

For Italian consumers, the deal may lead to changes in ownership of MediaWorld stores but is not expected to immediately impact the availability of electronics products or retail operations. Analysts suggest that JD.com’s entry could introduce more competitive pricing and expanded online shopping options in the Italian market.