Wal-Mart Says It Hasn’t Invested in Chinese Retailer 360buy
“To date, Wal-Mart has not invested in 360buy,” spokesman Kevin Gardner wrote in an e-mail yesterday. “But we have great respect for the business they have built.”
On Dec. 24, 2010, Li Jing, a spokeswoman for 360buy, said Wal-Mart and a group of partners agreed to invest more than $500 million in the Beijing-based online retailer to benefit from rising demand for e-commerce in China.
To contact the reporter on this story: Zhang Dingmin in Beijing at firstname.lastname@example.org