Deals
Wal-Mart Boosts Stake in JD.com Moving Further Into China
- JD.com shares jumped 12 percent before filing was disclosed
- Wal-Mart increases JD shares to 11 percent to boost ties
Wal-Mart Boosts Stake in JD.com
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Wal-Mart Stores Inc. is pushing more aggressively onto Alibaba Group Holding Ltd.’s turf.
The Bentonville, Arkansas-based retailer boosted its stake in China’s second-largest e-commerce website JD.com Inc., strengthening an alliance to win more market share in the world’s largest online market. Wal-Mart lifted its holding to 10.8 percent from 5.9 percent, according to an amended 13-G filing on Thursday. JD rose 7.5 percent in extended trading in the U.S.