JD.com Offers EU Remedies in Ceconomy Probe as China Hits Back
JD sits 19% above its 52-week low of $24.508.
Summary
JD.com has submitted remedies to EU regulators in the foreign-subsidies probe of its $2.5B Ceconomy bid, a first concrete step toward resolving the investigation. The filing does not disclose the nature of the remedies, but the move signals JD.com is actively negotiating to salvage the deal. China's government escalated the dispute by ordering entities not to cooperate with the EU probe, calling it improper extraterritorial jurisdiction. This follows the formal charges issued last month and the in-depth investigation opened in May. The outcome now hinges on whether the EU accepts the remedies or proceeds to block the deal.
At the time of this announcement, JD was trading at $29.10 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $34.6B. The 52-week trading range was $24.51 to $36.86. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Reuters.