UPGRADE 2-Wal-Mart to sell China e-commerce system to JD.com

Aircraft flies over a Wal-Mart signboard in Mexico City March 24, 2015.

Reuters/Edgard Garrido/File Photo

<articleLocation” > Wal-Mart Stores Inc stated it would offer its Chinese e-commerce business, Yihaodian, to China’s JD.com Inc. Under the offer, JD.com will release about 145 million new class A shares to Wal-Mart, representing about 5 percent of its overall shares.

Wal-Mart took a stake in Yihaodian, which accommodates affluent female consumers, in 2011 prior to taking full ownership in July 2015, integrating the Chinese business’s local know-how with its international sourcing and supply chain capabilities.

( Reporting by Sruthi Ramakrishnan in Bengaluru; additonal reporting by Rishika Sadam; Editing by Anil D’Silva).

Read More

Leave a Reply

Your email address will not be published. Required fields are marked *