JD.com’s $2.5 billion acquisition of German electronics retailer Ceconomy faces growing opposition from industry rivals. Competitors criticized the concessions JD.com offered to resolve European Union regulatory concerns.
The European Commission is investigating the deal under its Foreign Subsidies Regulation. Regulators are examining whether state-backed financing gave the Chinese e-commerce giant an unfair advantage.
JD.com proposed granting competitors access to its European logistics and technology at market rates last month. This remedy received negative feedback, pressuring the company to improve its terms.
The European Commission issued a formal notice of concern to JD.com in July. Regulators must reach a final decision by October 23.