Jul 20, 2020
Walmart revives talks about Asda supermarket sale
Walmart has restarted discussions about selling a majority stake in Asda, its UK supermarket, after putting the plans on hold to focus on the pandemic. A Walmart spokesman said it was the "Right time" to revive the talks. "Walmart and Asda have restarted conversations with a small number of third-party investors who are interested in acquiring a stake in Asda and partnering with Walmart, following renewed inbound interest," the spokesman said. Walmart, which purchased Leeds-based Asda in 1999, has overhauled its international strategy in recent years, to focus on markets, such as India, where it sees growth and forge alliances with on local partners, such as JD.com in China. After regulators blocked the deal, Walmart said it was considering a stock market flotation for Asda.
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