Walmart Sells $3.74 Billion Stake In China’s JD.com
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Walmart has sold its entire stake valued at $2.74 billion in Chinese e-commerce firm JD.com, where it was previously the largest shareholder for eight years. The decision is part of Walmart's strategy to focus on its operations in China, especially the growth of its warehouse business, Sam's Club. This sale comes amid challenges faced by JD.com, including declining stock prices and poor profit margins in the Chinese market. Walmart's stock has increased by 42% over the past year.
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