Ceconomy shares jump after report on renewed interest from JD.com (updated)
05/02/2025 12:02
(Adds detail on Ceconomy outlook, market capitalisation from
paragraph 5)
DUESSELDORF, Germany, Feb 5 (Reuters) -
Shares in Ceconomy CECG.DE jumped as much as 15.4% to
their highest level since April 2022 after Bloomberg News
reported that China's JD.com had revived its interest in buying
the German electronics retailer on Wednesday.
Citing people familiar with the matter, Bloomberg reported
that JD.com had recently approached Ceconomy about a potential
deal and started sounding out the firm's large shareholders.
A spokespereson for Ceconomy declined to comment on
speculation.
At 1200 GMT Ceconomy's shares were up 13.5% at 3.46
euros.
Electronics retailer Ceconomy, which operates under
MediaMarkt and Saturn in Europe, has a market value of about 1.5
billion euros ($1.56 billion).
There had been previous speculation about interest from
JD.com in Ceconomy in Nov. 2023.
Ceconomy said in December it aimed for EBIT growth of 10% or
more in 2024/25.
($1 = 0.9603 euros)
(Reporting by Matthias Inverardi and Tristan Veyet in Gdansk,
writing by Madeline Chambers, editing by Kirsti Knolle)
((Tristan.chabba@thomsonreuters.com))