The European Union (EU) has initiated an investigation into JD.com's proposed €2.2 billion acquisition of Ceconomy, a major German electronics retailer and significant stakeholder in France's Fnac Darty. This inquiry is the first application of the EU's Foreign Subsidies Regulation to a Chinese transaction, focusing on concerns that JD.com may have benefited from Chinese government subsidies, which could distort competition within the EU market. JD.com, the third-largest e-commerce platform in China, has refuted these claims, asserting that the acquisition will be financed through bank loans and internal resources. Ceconomy operates well-known retail brands such as MediaMarkt and Saturn, and holds a 22% stake in Fnac Darty, raising further scrutiny from French authorities. The European Commission has been notified of the acquisition and has a deadline until October 2, 2026, to make a ruling, which may include fines or blocking the deal if state-backed advantages are confirmed.