Wal-Mart announced today that its stake equity in Yihaodian.com will increase from 20% to 51%, which confirmed the rumor that the world’s largest retail will majority own Yihaodian.com. However, the transaction still needed Chinese regulator’s approval.

There were reports in January this year that Yihaodian.com’s former owner Pingan Group intended to sell all of its stake equities in the online retailer and Wal-Mart, which spent $65 million purchasing 20% of Yihaodian.com’s stakes from Pingan last year, will take another 50% and make 10% as incentive options for its senior executives.

Yihaodian.com’s chief executive officer Yu Gang denied such news as “rumor” when it came out and Pingan and Wal-Mart did not made any confirmation.