China Approves Wal-Mart's E-Commerce Deal

http://online.wsj.com/article/SB10000872396390444772404577588663305076798.html?mod=WSJ_hp_LEFTWhatsNewsCollection

Wal-Mart Stores Inc. is expanding in China's booming e-commerce sector as rivals increasingly wage price wars to win a bigger share of the growing online retail market.

Chinese regulators approved the U.S. retailer's purchase of a majority stake in Chinese e-commerce company Yihaodian, enabling Wal-Mart to increase its stake to 51% from 18%.