Wal-Mart Acquires Full Ownership of Chinese E-Tailer Yihaodian

Wal-Mart is increasing its efforts in China’s e-commerce space after the world’s largest retailer took full ownership of Yihaodian, its online retail business in the country. The U.S. retailer is buying up the remaining 49 percent stake in Yihaodian, a lesser rival to U.S.-listed duo Alibaba and JD.com, from financial services group Ping An of China, its domestic partner there. The company isn’t, however, disclosing a price for the deal.