JD.com would be interested in acquiring a relevant shareholding in the company Business, Parent company of MediaMarkt and Saturn, Manager Magazin reported, citing sources familiar with the matter. The possible entry of the Chinese company as a significant shareholder led to a significant increase in the shares of the German group, which rose by almost 16% last Wednesday.
This is what the German magazine announces JD.com has held discussions with Ceconomy shareholders such as Haniel and Meridian. Haniel currently holds a 16.7% stake in Ceconomy and Meridian holds an 11.1% stake. According to the report, Haniel wouldn’t mind selling his shareHowever, he refused to comment on the matter for now.
That is also what is said JD.com is in discussions with Beisheim and Schmidt-Ruthenbeck. According to the information, the three together own almost a third of the Ceconomy shares. If all shares in JD.com were transferred, a takeover offer would be absolutely necessary (GRANDPA). Another 29% of the company belongs to Mediamarkt co-founder Erich Kellerhals, 6.7% is held by Freenet and the rest are free float shares.
So far, the mobile phone provider Freenet is the only major shareholder to have commented on the rumors: “JD.Com did not ask us about our participation«. In the event that JD.com buys the shares of Haniel, Beisheim and Schmidt-Ruthebeck, the complete takeover of Ceconomy is a very viable option.