India, July 24 -- CECONOMY AG confirmed that it is in advanced negotiations with JD.com regarding apossible public takeover of CECONOMY by JD.com. The company noted that no legally binding agreements have been signed so far. JD.com is considering making the shareholders of CECONOMY a voluntary public takeover offer in the form of a cash offer for all bearer ordinary shares, and to offer a price of 4.60 euros per ordinary share.
CECONOMY AG offers concepts and brands such as MediaMarkt, MediaWorld and Saturn in the consumer electronics sector in Europe. The companies in the CECONOMY portfolio have billions of consumer contacts per year.
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