Overview

• Ceconomy confirmed advanced but non-binding takeover talks with JD.com over a potential €4.60 per-share bid.
• The proposed offer represents roughly a 23% premium to Ceconomy’s recent closing price.
• The Kellerhals family, holding about 30% of shares, joins other major investors in deciding the outcome.
• Ceconomy’s stock leapt about 12% after the news, reflecting investor optimism.
• If completed, the deal would give JD.com access to Ceconomy’s roughly 1,000 MediaMarkt and Saturn outlets, 50,000 employees and €22.4 billion in annual sales as it seeks expansion beyond China.