Wal-Mart Gets Approval From Chinese Regulators for E-Commerce Deal

Wal-Mart has received conditional approval from Beijing to acquire a majority stake in a Chinese e-commerce company. Wal-Mart will increase its stake in the Yihaodian holding company to approximately 51 percent, from a little more than 17 percent. Yihaodian has been in business for less than four years. It sells more than 180,000 products ranging from groceries to electronics to clothing. Wal-Mart is seeking more access to Chinese consumers, who are increasingly shopping online. Terms of the deal weren't disclosed.