On February 19, 2012, Wal-Mart Stores, Inc. disclosed its additional investment in Yihaodian, a fast-growing electronic commerce website in China, making Walmart’s total ownership stake in Yihaodian to reach approximately 51%. It was Wal-Mart’s second investment for the purpose of controlling Yihaodian, upon its initial investment in Yihaodian in May of 2011. According to Wal-Mart, closing of the transaction would be subject to Chinese government regulatory approval. Obviously, such approval would be the product of merger control review process administered by the Ministry of Commerce of PRC and its local counterparts (collectively, “MOFCOM”).
- Internet Industry,
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