Ceconomy Shares Rise After Report of JD.com's Interest in Buying Stake
15 November 2023 - 1:58PM
Dow Jones News
By Helena Smolak
Ceconomy shares rose after a media report indicated that Chinese
e-commerce giant JD.com is interested in acquiring a stake in the
owner of electronics-retail chains MediaMarkt and Saturn.
At 1215 GMT on Wednesday, shares of Ceconomy jumped 14% to
EUR2.35.
German business journal Manager Magazin reported, citing people
familiar with the matter, that JD.com has been in talks with
Ceconomy shareholders such as Haniel and Meridian since the summer
about a possible acquisition of their share packages.
Ceconomy, Haniel, and the Meridian and Beisheim foundations
declined to comment when contacted by Dow Jones Newswires, while
JD.com didn't immediately respond to a request for comment outside
of business hours in China.
Haniel holds a 16.7% stake in Ceconomy, Meridian has an 11.1%
shareholding, and Beisheim's interest amounts to 4.8%, according to
the company's website.
Ceconomy--which operates around 1,000 Saturn and MediaMarkt
stores--was formed in 2017 from a spin-off of the
consumer-electronics business from Metro AG.
Ulrike Dauer contributed to this article.
Write to Helena Smolak at helena.smolak@wsj.com
(END) Dow Jones Newswires
November 15, 2023 07:43 ET (12:43 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
Ceconomy (TG:CEC)
Historical Stock Chart
Von Mär 2024 bis Apr 2024
Ceconomy (TG:CEC)
Historical Stock Chart
Von Apr 2023 bis Apr 2024
