Reported about 2 months ago
Walmart has sold its stake in Chinese e-commerce company JD.com for approximately $3.6 billion, marking the end of an eight-year partnership amid a downturn in China's technology sector. The sale involved 144.5 million shares at a price significantly below market value, reflecting the challenges faced by JD.com and other e-commerce giants in a fluctuating economic environment. Despite this divestment, Walmart plans to maintain a cooperative relationship with JD.com while redirecting focus towards its own retail operations in China.
Source: YAHOO