Reuters/Edgard Garrido/File Photo
Wal-Mart Stores Inc is in talks to sell its Chinese e-commerce business, Yihaodian, to JD.com Inc, the Wall Street Journal reported, citing people familiar with the situation.
The exact terms of the proposed deal are unclear and discussions remain fluid, but one of the people said it could include a broader partnership between Wal-Mart and JD.com, according to the report. (on.wsj.com/28IQUlW)
Wal-Mart took full ownership of Yihaodian, a smaller rival to Alibaba Group Holding Ltd and JD.com, last July to boost its presence in China’s fast-growing online market.
JD.com and Wal-Mart declined to comment.
(Reporting by Sruthi Ramakrishnan in Bengaluru; additonal reporting by Rishika Sadam; Editing by Anil D’Silva)