Wal-Mart's Chinese E-Commerce Buy Gets OK, With Caveats

Law360, New York (August 14, 2012, 2:40 PM EDT) -- Wal-Mart Stores Inc. has gotten approval, albeit with some restrictions, from Chinese regulators to take a controlling stake in Chinese online supermarket Yihaodian following an extended antitrust review process, the country’s commerce ministry said Tuesday.

The approval, which comes after the competitive review deadline had been extended several times, clears the way for America’s biggest retailer to expand into China’s online shopping sector, which could be worth 2 trillion yuan ($315 billion) by 2015, according to the Boston Consulting Group.

Wal-Mart had said in February it...
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