JD.com Inc. is rumored to have agreed to acquire Yihaodian, a Chinese e-commerce platform owned by Wal-Mart Stores, Inc., in a deal structured to establish a JD.com-and-Wal-Mart alliance to compete with rival Alibaba Group Holdings Ltd.
According to Chinese media reports, JD.com emerged as the final taker of Yihaodian, for a reported price tag of RMB40 billion (US$6 billion). Alibaba Group Holdings Ltd. was among other interested parties to buy the company.
JD.com is to make formal announcements of the deal in a couple of days, says Chinese media reports. Both parties have not made any comments about the reports.
From 2011 on, Wal-Mart acquired a total of approximately 51% of Yihaodian via several transactions. In July 2015, Wal-Mart said it would acquire the remaining stake of Yihaodian it does not already own for undisclosed amoun...
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