JD.com in talks to acquire MediaMarkt parent company Ceconomy for $2.58 billion

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JD.com is in advanced negotiations to acquire German electronics retailer Ceconomy for €2.2 billion ($2.58 billion), according to Bloomberg and Reuters. Ceconomy confirmed on Thursday that it is holding in-depth talks with JD, noting a potential offer of €4.6 per share. Ceconomy is the parent company of retail chains MediaMarkt and Saturn, which together operate nearly 1,000 stores across Europe and employ around 50,000 people. The company reported €22.4 billion in revenue for the fiscal year 2023/24, with €5.1 billion from online sales. JD had previously considered acquiring UK electronics retailer Currys, but talks fell through.