Wal-Mart to buy US online retailer Jet.com
New York
New York - Arab Today
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Wal-Mart Stores announced Monday that it will acquire e-commerce company Jet.com for $3.3 billion as it beefs up its online retail operations in response to Amazon and other companies. Wal-Mart is paying $3 billion in cash for the online retailer. Shareholders of Jet.com, which was launched in July 2015, will also receive $300 million in Wal-Mart shares, Wal-Mart said. |
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