Will shopping at MediaWorld still mean visiting a physical store? Will we still be able to choose a television or a smartphone just as we have done until now? And how will we be able to compare products with the help of sales staff? Will we still be able to decide at the last minute whether to pay at the checkout or purchase online?
For now, the answer is yes. German retail group CECONOMY, which owns MediaWorld in Italy and the MediaMarkt and Saturn brands elsewhere in Europe, is preparing to come under the control of Chinese company JD.com, one of the world’s largest e-commerce and retail groups. The deal is valued at around 2.2 billion of euros and received approval from the European Commission on 3 November 2026, subject to a number of conditions.
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How much is the deal worth, and who financed it?
The takeover offer was launched in July 2025 through JD.com’s subsidiary JINGDONG Holding Germany GmbH, at a price of 4.60 euros per CECONOMY share. This valued the company’s entire share capital at around 2.2 billion euros. JD.com acquired 59.8% of the shares for approximately 1.335 billion euros. Together with the 25.35% retained by Convergenta, the founding family shareholder of MediaMarkt, the stake controlled through the partnership reaches 85.2%.
A 2 billion of euros bridge financing facility was arranged to support the transaction. According to Bloomberg, HSBC and Standard Chartered acted as the banks responsible for arranging and underwriting the facility. JD.com received legal advice from Baker McKenzie, while CECONOMY relied on Flick Gocke Schaumburg for tax matters. There is no official information identifying insurance companies as specific financial backers of the acquisition.
Why did the EU impose conditions?
The European Commission approved the deal after investigating the possible effects of public support received by JD.com in China, including preferential financing, tax incentives and grants. Brussels was concerned that these resources could give the group an unfair advantage in the European market, including through more favourable financing and logistics services than those available to competitors.
The approval therefore comes with binding commitments lasting ten years. Financial and commercial transactions between JD.com and CECONOMY must take place on market terms. In addition, JD.com’s warehousing, logistics and technology services must also be available to other retailers on the same terms offered to the acquired company. An independent trustee will monitor compliance under the Commission’s supervision.
Stores, brands and employees: what will actually change?
For regular MediaWorld customers, the most important issue concerns the future of its retail network. The MediaWorld, MediaMarkt and Saturn brands are set to remain in place for at least five years, as is CECONOMY’s corporate identity. The agreement also provides for the continuation of its European structure, local management, sites and stores, with no workforce cuts or changes to employment agreements planned as a result of the transaction.
European customers’ personal data must also remain protected under EU rules, with separate management and technology infrastructure located in Europe. There is therefore no current basis for expecting the takeover to lead immediately to store closures, new shop signs or the end of the traditional in-store shopping experience.
Online shopping could be where the biggest changes happen
The most significant transformation may instead concern the relationship between physical stores, online sales and home delivery. JD.com has logistics infrastructure and technological expertise that could help CECONOMY offer a wider product selection, improve delivery efficiency and better connect online shopping with physical stores. The companies have identified faster deliveries and access to new technologies and services among the expected benefits of the partnership. This does not mean MediaWorld will suddenly become a Chinese marketplace or that prices, payment methods, warranties and customer support will change overnight.
The aim is to gradually strengthen the existing monochannel model by combining the group’s network of stores with JD.com’s digital infrastructure. For customers, the most visible changes may therefore come over time through faster services and a closer connection between online and in-store shopping, rather than the disappearance of the MediaWorld experience they already know.
