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Kretinsky Seizes Control of Fnac Darty in Strategic Move

  //house-home.news-articles.net/content/2026/02/0 .. zes-control-of-fnac-darty-in-strategic-move.html
  Published in House and Home on Sunday, February 8th 2026 at 21:58 GMT by Le Monde.fr
      Locales: FRANCE, CZECH REPUBLIC, CHINA

Paris, France - February 9th, 2026 - Czech billionaire Daniel Kretinsky has officially solidified his control over French-European electronics retailer Fnac Darty, completing a takeover widely seen as a strategic move to limit the influence of Chinese e-commerce giant JD.com within a crucial European market. Kretinsky's EPF group now commands a commanding 78.5% stake in Fnac Darty, effectively curtailing JD.com's previously held influence and raising further questions about the future of Chinese investment in key European industries.

The deal, finalized after months of scrutiny from the French government, represents more than just a simple corporate acquisition. It's a significant indicator of growing geopolitical concerns surrounding foreign ownership of strategic assets, particularly as competition intensifies between Western and Eastern economic powers. While framed as a standard business transaction, the political undertones have been palpable throughout the process. French officials, increasingly sensitive to the potential for control of critical infrastructure and supply chains by foreign entities, reportedly exerted considerable influence to ensure Kretinsky's bid prevailed over alternative options, including sustained JD.com involvement.

JD.com's initial investment in Fnac Darty several years ago signaled ambitions to expand its footprint beyond China and establish a robust presence in the European retail sector. However, these ambitions have now been significantly hampered. Analysts suggest that JD.com's attempts to integrate its technological advancements - particularly in areas like logistics and data analytics - into Fnac Darty's operations faced internal resistance and regulatory hurdles. The concerns centered on data security, potential for unfair competition, and the broader implications of allowing a Chinese company deeper access to European consumer data.

Kretinsky, dubbed the 'Czech Terminator' by French media due to his reputation for aggressive and decisive business tactics, is rapidly becoming a dominant force in the European economic landscape. His existing portfolio is already impressive, spanning diverse sectors including media, construction, and retail. Prior to the Fnac Darty acquisition, he held substantial stakes in Vinci, a major construction and concessions group; Patrick Sebastien's production company, demonstrating a foray into the entertainment industry; and importantly, a considerable share in MediaMarkt, another prominent European electronics retailer. This latest acquisition adds significant firepower to his already substantial retail holdings, creating a powerful combined entity capable of competing effectively with global giants like Amazon.

Industry experts believe that Kretinsky's strategy isn't solely focused on direct competition with Amazon. He appears to be building a diversified retail ecosystem, leveraging synergies between his various holdings. This could involve integrated logistics networks, shared marketing initiatives, and the development of exclusive product lines. The addition of Fnac Darty's strong brick-and-mortar presence - something Amazon historically lacked - complements Kretinsky's existing online retail assets, creating a more resilient and adaptable business model.

The long-term implications of this deal extend beyond the immediate impact on Fnac Darty and JD.com. It reinforces a growing trend of 'strategic autonomy' within the European Union, where governments are increasingly prioritizing the protection of domestic industries and limiting foreign control of vital assets. Expect to see heightened scrutiny of future foreign investments, particularly from countries perceived as posing a geopolitical risk.

Furthermore, the deal could spur further consolidation within the European retail sector. Other major players may seek to merge or acquire companies to bolster their defenses against both Amazon and the now-strengthened Kretinsky-led alliance. The competitive landscape is poised for a period of significant upheaval.

While JD.com has not officially commented on its future plans regarding the European market, sources close to the company suggest they are reassessing their strategy and exploring alternative avenues for expansion. This may include focusing on specific niche markets or forging partnerships with existing European retailers. The battle for dominance in the European retail sector is far from over, but Kretinsky's latest move has undoubtedly tipped the scales in his favor, and sent a clear message about the changing dynamics of global investment.