MAJOR ONLINE PUSH: Wal-Mart did not disclose the price paid for the stake, which was bought from former executives and financial services group Ping An.
SHANGHAI: Wal-Mart Stores Inc has taken full ownership of Chinese e-commerce firm Yihaodian.com, buying out the 49% stake that it did not already own to accelerate its push online, the US retail giant said.
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.
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