NEW YORK CITY: Wal-Mart will transfer its online Yihaodian operations in China to JD.com in exchange for a stake in the Chinese e-commerce giant in an alliance announced on Monday (Tuesday in Manila).
Under the deal, JD.com will take ownership from Wal-Mart Stores of the Yihaodian brand, website and app. Wal-Mart will continue to run the Yihaodian direct sales business.
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