US retailers Wal-Mart and Kmart have opted to buy out the venture capitalist backers which helped them
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ramp up their online trading divisions. Wal-Mart will buy out Accel Partners‘ stake in Wal-Mart.com “to establish an even deeper integration between our online business and the operations of our Wal-Mart stores,” reported the Financial Times.
Kmart said it would purchase the 40% stake in its Bluelight.com operation held by Softbank Venture Capital and fellow investors.
Neither group has disclosed the amount it will pay to buy back control of its online division, although Wal-Mart declared it would accept a charge of approximately one cent for the quarter to 31 July as a direct result of the move.
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