The European Union has opened an investigation into Chinese e-commerce giant JD.com’s proposed €2.2 billion takeover of German electronics retailer Ceconomy, which is the second-largest shareholder of French group Fnac Darty. Regulators suspect the bid may involve Chinese subsidies.
The European Commission announced on Thursday that it is examining the transaction under the bloc’s Foreign Subsidies Regulation – the first time a Chinese deal has been targeted under rules designed to prevent state-backed firms getting an unfair advantage in the EU's single market.
