Editor
Walmart, the biggest shareholder of Chinese e-commerce firm JD.com, has sold its entire stake, according to a person familiar with the matter, exiting an eight-year investment to focus on its own operations in China.
A placement of the Walmart shares was fully subscribed, the person said, and at the top end of the offered range would be worth $3.74 billion.
The US retail giant plans to double down on its warehouse business Sam’s Club in China…
