China's JD.com to become co-owner of M.Video-Eldorado

12 Aug, 2025

China's JD.com to become co-owner of M.Video-Eldorado

JD.com, one of the leading online shopping companies on the Chinese market, will become an indirect co-owner of M.Video-Eldorado after its purchase of German retailer Ceconomy. This was reported by RBC citing unnamed sources.

According to RBC, an agreement was reached in late July for China's JD.com, an Alibaba rival, to buy Ceconomy. The deal has not yet received regulatory approval and the parties plan to close in the first half of 2026.

Ceconomy owns Media-Saturn-Holding GmbH, which operates the MediaMarkt and Saturn electronics retail chains in Europe. The deal also involves the buyout of Media-Saturn-Holding GmbH's Russian asset – a 15% stake in M.Video-Eldorado, which the European company had owned since 2018.

According to an RBC source, JD.com is interested in developing its business in Russia and promoting its products through a Russian retailer.

It is not known whether JD.com's stake will remain the same, as M.Video-Eldorado announced an additional share issue in May. As a result of the additional share issue, Media-Saturn-Holding GmbH's stake may be diluted. To maintain the size of the stake, the foreign owner would need to exercise its pre-emptive right to buy out the shares, which would require authorisation from the Russian government's Foreign Investment Control Commission.

China's JD.com to become co-owner of M.Video-Eldorado

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