(AP) - ONLINE OK: Wal-Mart Stores Inc., the world's largest retailer, received conditional approval from regulators IN China to buy a majority stake in a Chinese e-commerce company.
PRIME CUT: Wal-Mart will increase its stake in Yihaodian's holding company to about 51 percent from around 17 percent. The financial terms of the deal were not disclosed.
BIG DEAL: Yihaodian sells more than 180,000 products, ranging from groceries to electronics to clothing. The deal improves Wal-Mart's access to Chinese consumers who increasingly use smartphones and social media to shop.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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