Walmart Sells Entire JD.com Stake for $3.6 Billion

Walmart has sold its entire stake in Chinese e-commerce giant JD.com, raising approximately $3.6 billion from the sale and ending an eight-year partnership. This move allows Walmart to concentrate on its own operations in China, including Walmart China and Sam’s Club. The decision comes amid a challenging environment for Chinese tech firms and increasing competition from other e-commerce platforms like Pinduoduo and Alibaba. JD.com’s shares fell significantly following the announcement, reflecting investors' concerns about China's sluggish e-commerce sector and heightened price competition. Despite the sale, Walmart has expressed its commitment to maintaining a commercial relationship with JD.com. Morgan Stanley managed the sale, which was fully subscribed.