May 15, 2019
Asda could be listed on the stock market after blocked merger
Asda could be listed on the stock market after its merger with supermarket rival Sainsbury's was blocked by the competition authorities. Judith McKenna, chief executive of Asda's owner Walmart, has told staff such a listing is being considered. She told managers at Asda's Leeds head office any listing could "Take years". It comes after the Competition and Markets Authority blocked its merger with rival Sainsbury's. "Walmart does not have a one-size-fits-all approach to operating its international markets, but a consistent focus on strong local businesses powered by Walmart," she said.
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