Ron Burgundy Posted July 23, 2015 Share Posted July 23, 2015 Wal-Mart Stores Inc has taken full ownership of Chinese e-commerce firm Yihaodian.com, buying out the 49 percent stake that it did not already own to accelerate its push online, the U.S. retail giant said on Thursday. The investment will help Wal-Mart target China's fast-growing online market at a time when largely brick and mortar retailers are feeling the pinch of competition from online rivals and a slowing of the world's second-largest economy. Wal-Mart's move also comes after China said last month it will allow full foreign ownership of some e-commerce businesses, with the goal of encouraging foreign investment and the development and competitiveness of the sector. View the full article Quote Link to comment Share on other sites More sharing options...
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