Ceconomy shares jump after report on renewed interest from JD.com

Reuters

Feb 05, 2025

UPDATE 1-Ceconomy shares jump after report on renewed interest from JD.com

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))

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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))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}