Walmart sells $3.74 billion JD.com stake to focus on its own China operations

Quick Summary:

HONG KONG: Walmart, the biggest shareholder of Chinese e-commerce firm JD.

Morgan Stanley did not respond to a request for comment.JD.com's Hong Kong-listed shares fell more than 10% on Wednesday.

Major e-commerce firms, including JD.com and rivals Alibaba and PDD Holdings' Pinduoduo have engaged in a brutal price war in order to entice consumers to buy, pressuring revenue growth and margins.

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Article Details

Author / Journalist: Reuters

Category: EconomyBusiness

Markets: IndiaChinaHong KongPakistan

Topics: E-commerce Stake Sam's Club Walmart Morgan Stanley Share sale Revenue growth

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-21 @ 18:31:22 (4 hours ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 733 words

Reading Time: 5 minutes read

Sentences: 17 lines

Sentence Length: 44 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Times of India

News ID: 22194718

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About Times of India

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Official Website: timesofindia.indiatimes.com

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