Walmart Sells JD.com Shares Amid Increased Focus on China
WMTWalmart(WMT) PYMNTS.com·2024-08-21 20:40

Walmart has sold its entire stake in Chinese eCommerce giant JD.com.The move, announced in a securities filing Tuesday (Aug. 20), comes as Walmart is increasing its own focus on China’s retail sector.Walmart had owned a nearly 10% stake in the company as of late last year, according to JD.com’s 2023 annual report.The mammoth retailer first purchased shares in JD in 2016 in exchange for the sale of its eCommerce business Yihaodian.“Walmart invested nearly 10 years ago when JD.com and the ecommerce market wer ...