Brussels is set to launch an in-depth foreign subsidies investigation into Chinese ecommerce group JD.com’s bid for German electronics retailer Ceconomy, in the latest sign the EU is taking a more aggressive stance towards Beijing.
The decision, which people familiar with the matter said was expected to be announced later this week, would be the first time a Chinese takeover has been the target of a detailed probe under the EU’s foreign subsidies rules and comes ahead of a debate among commissioners on the bloc’s stance towards China.
China’s JD.com launched its €2.2bn bid for Ceconomy, which operates more than 1,000 stores across Europe under the MediaMarkt and Saturn brands, last July.
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