Walmart Suspends Talks With Potential Buyers of Its Asda Stake

Source: Asda

LONDON (Reuters) – Walmart, the world’s largest retailer, has put the possible sale of a majority stake in its British supermarket arm Asda on hold until the coronavirus crisis is over, said a person familiar with the situation.

The U.S. group had said in February it was talks with possible buyers of a stake in Asda, which it failed to combine with UK rival Sainsbury’s last year.

However, Walmart has now paused the process so that Asda Chief Executive Roger Burnley and his leadership team can fully focus on responding to the current health emergency.

Reporting by James Davey, Editing by Franklin Paul.

_____

Source: Reuters