Media market's focus on satellite provider Saturn
The Federal Cartel Office has given its approval for JD.com, China's largest retailer in terms of turnover and a leading player in online trading and e-commerce logistics, to take over Ceconomy, the parent company of MediaMarkt and Saturn. However, the deal is not yet final as a review of security policy aspects lies with the Federal Ministry of Economics and Energy.
The deal includes branches in Hamburg, home to one Saturn store in Bergedorf and six MediaMarkt branches, including the prominent former Saturn branch on Mönckebergstraße, which reopened last year as "Tech Village Hamburg."
According to Ceconomy's statement in July, the deal does not seem to have any significant changes to the brand or corporate structure of Saturn and MediaMarket initially. JD.com has assured that existing employment agreements and collective agreements will be maintained for three years, and there will be no dismissals or closures of locations within the transaction.
The investment agreement for the takeover of Ceconomy by JD.com was announced at the end of July. However, JD.com is currently only active to a limited extent in Germany.
The Federal Cartel Office sees no competition law concerns with the deal. Katharina Reiche, Germany's Federal Minister for Economics and Energy as of 2025, could still veto the deal if she has security policy concerns. It is important to note that such competition decisions typically fall under the Bundeskartellamt's independent assessment rather than the minister's direct control.
Despite the ongoing security review, the approval from the Federal Cartel Office is a significant step forward for the deal. MediaMarkt and Saturn are well-known electronics markets, and the takeover by JD.com could potentially bring new opportunities for growth and innovation to the companies.
As the review progresses, more information about the potential impact of the deal on Saturn and MediaMarkt is expected to be released. The electronics markets will continue to be closely watched as the deal moves towards its final stages.
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