There were reports that Wal-Mart is planning to purchase another 50% stake equities of Yihaodian, an online shopping mall that was majority owned by Ping An. Such a move and the 20% stake equities that the retailer already has will make Wal-Mart the owner of Yihaodian and start its e-commerce business in Chinese market.

 

When asked for confirmation as to the above new, manager of Public Relations, Wal-Mart China said, “Wal-Mart will not comment on the news at the moment.” Though the retail giant’s reply was vague, Zhuang Shuai, the architect of Wal-Mart’s e-commerce sector said, “The new cannot come from nowhere. It is most likely to be true as the move is in Wal-Mart’s best interests.”