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Wal-Mart takes ownership of Chinese e-commerce venture Yihaodian

Wad-Mart ups stake from 51% to 100% as part of long-term commitment to grow in China, in line with previously-announced e-commerce budget

By Undercurrent News | July 23, 2015 15:08 BST
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Wal-Mart Stores, Inc. has acquired the outstanding shares in Chinese e-commerce business Yihaodian from Ping An of China, a financial services group, and the co-founders, chairman Gang Yu and former CEO Junling Liu. This ups its stake in the company from 51% to 100%. [...]

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