UK MPs call probe into JD.com’s €2.2bn bid and Joybuy expansion
AMZN•Shadow national security minister urges UK Parliament to probe JD.com’s Joybuy launch and potential Currys, Argos, Very Group takeovers over suspected Chinese state subsidies. European Commission is already investigating JD.com’s €2.2bn bid for Ceconomy over financing and tax incentives distortion.
1. Call for Parliamentary probe
Shadow national security minister Alicia Kearns has urged the UK Parliament and relevant bodies to investigate JD.com’s UK expansion under its Joybuy brand over fears of unfair state-subsidized competition.
2. EU Subsidy Investigation
The European Commission has launched an in-depth inquiry into whether JD.com benefited from Chinese financing, tax incentives and grants, following its €2.2bn bid for German electronics retailer Ceconomy.
3. Potential Retail Acquisitions
JD.com has explored takeover bids for Currys and Argos and is linked to a potential acquisition of Very Group, raising concerns over its growing UK retail footprint.
4. Implications for Amazon
A comprehensive probe and tightened customs rules on low-value imports could limit subsidized competition and strengthen Amazon’s position in the UK e-commerce market.
