Business Walmart, the world’s biggest retailer, said it is considering a stock market listing for its British supermarket arm Asda, whose attempt to combine with rival Sainsbury’s was blocked by the UK regulator last month. 15 May 2019 08:00AM Bookmark LONDON: Walmart, the world’s biggest retailer, said it is considering a stock market listing for its British supermarket arm Asda, whose attempt to combine with rival Sainsbury’s was blocked by the UK regulator last month.Judith McKenna, the Walmart International CEO, told Asda managers at an event in Leeds, northern England, on Tuesday: “While we are not rushing into anything, I want you to know that we are seriously considering a path to an IPO – a public listing – to strengthen your long-term success.”But she cautioned that any preparations for an IPO would “take years”, according to comments released by Asda afterwards.Britain’s competition regulator ruled Sainsbury’s 7.3 billion pound (US$9.4 billion) takeover of Asda could not proceed, blocking one potential exit route for Walmart from the UK.The decision prompted analysts to speculate that Walmart would try to sell Asda to private equity or consider a stock market listing for the business, which it paid 6.7 billion pounds to acquire in… Read full this story
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