Skip to content
Subscriber Only

Wal-Mart Raises Stake to 51% in Chinese Website Yihaodian

Wal-Mart Stores Inc., the world’s largest retailer, became a majority shareholder in Yihaodian by raising its stake in the Chinese online supermarket to tap rising consumer wealth and help the company offer more products.

Wal-Mart agreed to increase its holding in the closely held Shanghai-based company to about 51 percent, it said in an e-mailed statement today without disclosing terms. The Bentonville, Arkansas-based company bought an unspecified minority stake in Yihaodian last year.