Walmart Announces Strategic Partnership

Shares of the Walmart (WMT) - Get Report were up slightly during midday trading Monday after announcing a strategic partnership with China's JD.com (JD) - Get Report . Under the agreement, Walmart will sell its controlling stake in its Chinese e-commerce marketplace, Yihaodian, to JD.com, which is the second-largest online retailer in China after the Alibaba Group (BABA) - Get Report . JD.com will issue about 145 million new class A shares to Walmart, representing 5% of its total shares.

This article was written by a staff member of TheStreet.