Chinese ecommerce giant JD.com is in “advanced negotiations” to buy Ceconomy in a deal that would value the German electronics retailer’s equity at about €2.2bn.
The German owner of MediaMarkt and Saturn said JD.com was considering a cash offer of €4.60 per share in a statement on Thursday confirming an earlier report by Bloomberg.
The bid would represent a 23 per cent premium to Ceconomy’s closing share price on Wednesday. The German company’s shares rose 14 per cent following the statement on Thursday afternoon.
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