China has ordered entities not to assist with the European Union's investigation into JD.com's (JD) proposed acquisition of German electronics retailer CECONOMY AG, after calling the probe an exercise of improper extraterritorial jurisdiction, according to media reports Wednesday.
China's Ministry of Justice said the EU had sought extensive and unnecessary information from within China as part of its investigation, describing the request as a serious violation of international law, Reuters reported.
The ministry also warned that China would retaliate if the EU continued its actions, according to the report.
The EU opened an in-depth review of JD.com's proposed acquisition of CECONOMY in May, citing concerns that the Chinese e-commerce company may have benefited from foreign subsidies that could distort competition in the European Union.
JD.com did not immediately respond to a request for comment from.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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