Ceconomy CEO expects EU to conduct review of JD.com's takeover plans

Ceconomy CEC expects EU competition authorities to examine JD.com's 89618 plans to take it over, said the German company's CEO, Kai-Ulrich Deissner, on Thursday.

Given the size of the transaction, the plans are expected to fall under the purview of Brussels rather than Germany's federal cartel office, added Deissner in a conference call.

With its Chinese partner, Ceconomy will be able to grow faster and gain access to leading technologies, he added.

JD.com is acquiring Germany's Ceconomy in a deal that values the electronics retailer at 2.2 billion euros ($2.5 billion), allowing one of China's largest online retailers to expand outside of its home market.