Walmart plans to sell its $3.74bn stake in JD.com, ending its partnership amid China's retail downturn.

Walmart plans to raise up to $3.74bn by selling its stake in Chinese e-commerce firm JD.com, ending their eight-year partnership amid China's retail downturn and intense competition. This move is part of Walmart's strategy refinement in China, where retail is dominated by online platforms. The share sale aims to allow Walmart to focus on its strong China operations and allocate capital to other priorities.

August 21, 2024
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