MediaMarkt's parent company Ceconomy falls under JD.com's control

German Ceconomy, the parent company of MediaMarkt, which operates 106 stores in 32 cities in Turkey and employs approximately 4,000 people, has come under the control of Chinese e-commerce giant JD.com. With this transfer, JD.com will gain access to more than a thousand stores in 11 countries, including MediaMarkt stores in Turkey. The transaction was formalized with the transfer of control of Ceconomy to JD.com. MediaMarkt's Turkish operation has a broad network in the retail sector with 106 stores in 32 provinces and close to 4,000 employees. JD.com's move is seen as part of its strategy to expand its presence in international retail markets. Following the agreement, the Chinese e-commerce giant aims for a stronger position in Europe and surrounding markets through its store network in 11 countries. This is not investment advice.