Procedure outlined in Article 93 (2) of the Treaty will be initiated by the Commission.
In Hamm, Germany, the Mathematics Olympiad has recently commenced, but the city is also experiencing a significant event in the business world. The Chinese e-commerce giant, JD.com, has made a bid to become the majority shareholder of Ceconomy, the parent company of MediaMarkt-Saturn, Europe's largest electronics retailer.
Ceconomy, with its headquarters in Hamm, operates under the main brands MediaMarkt and Saturn, boasting a nationwide branch network and online trading. The company generated revenue of 22.4 billion euros in the most recent full fiscal year 2023/24, with around a quarter coming from online business.
JD.com, on the other hand, primarily focuses on online trading and e-commerce logistics, with revenues of 159 billion US dollars. The company has been only marginally active in Germany, with online shops under the brand joybuy being an example.
The Federal Cartel Office has approved the acquisition of Ceconomy by JD.com, stating that the deal does not give rise to any competition law concerns. However, the deal is not yet finalized, as it is subject to potential veto by the Federal Minister of Economics, Katharina Reiche (CDU), who has the power to veto the deal if she has security policy concerns.
The SPD and CDU parties in Hamm have set their political course for the future, but the impact of this potential deal on the local economy and jobs remains uncertain. JD.com aims to invest 4 billion euros in Ceconomy, which would make it Europe's largest electronics retailer through MediaMarkt-Saturn, with an approximate worldwide workforce of 50,000 people, including around 17,000 employees in Germany.
Meanwhile, the hospitals in Hamm are experiencing an increase in patients but have fewer beds available, a separate issue from the potential acquisition but a pressing concern for the city's residents.
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