Wal-Mart buys out YHD in online push

Wal-Mart Stores Inc on Thursday took full control of Chinese e-commerce firm Yihaodian.com by purchasing the balance 49 percent stake that it did not already own to further accelerate its online presence in the country.

The company bought the stake from YHD founders Yu Gang and Liu Junling, as well as from Ping An Insurance Group.

Industry experts said the acquisition will give the US retail giant a clear edge over other brick-and-mortar retailers in China's fast-growing consumer market.