Wal-Mart Stores Inc. is in talks to buy Jet.com, a year-old online rival, as part of a multibillion-dollar revamp of its e-commerce division aimed at boosting online sales growth, the Wall Street Journal reported.
Jet.com could be worth as much as $3 billion, the Journal said, citing people familiar with the matter.
Wal-Mart spokesman Greg Hitt declined to comment and Jet could not be immediately reached for comment.
The world's largest retailer is playing catch up with Amazon.com Inc. on distribution and technology. The acquisition could give it access to Jet.com's innovative pricing software, its network of warehouses and customer data.
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