Daniel Kretinsky Launches Bid to Control Fnac Darty, Blocking Chinese JD.com

Czech billionaire Daniel Kretinsky, who owns 28.5% of French retail giant Fnac Darty, is preparing a public purchase offer (OPA) to secure control of the company and prevent Chinese e-commerce firm JD.com from gaining influence. The bid will be submitted to the French Financial Markets Authority in the first quarter of 2026, with the goal of completing the acquisition by early July. Kretinsky's move counters JD.com's plan to consolidate control by acquiring Ceconomy’s 21.9% stake, the German electronics distributor and Fnac Darty's second-largest shareholder.

To execute his plan, Kretinsky has engaged three major French banks — BNP Paribas, Société Générale, and Crédit Agricole — as well as the law firm De Pardieu Broca Maffei. This strategic move reflects Kretinsky's broader ambition to expand his business empire in France, where he has recently increased his influence, including becoming the third-largest shareholder in TotalEnergies with a 4.1% stake.

French authorities have viewed Kretinsky's takeover bid favorably, recognizing it as a way to maintain French and European influence over key economic assets amid growing Chinese competition. TotalEnergies’ CEO Patrick Pouyanné also welcomed Kretinsky's entry as a long-term shareholder, reinforcing confidence in the company’s strategy.

Kretinsky’s transformation from a controversial figure known for his coal industry ties to a key player in French capitalism underscores his evolving role. His decisive move to control Fnac Darty exemplifies his strategic approach to consolidating power and influence within France's business landscape.