4/25/2019, 12:00 PM (Source: TeleTrader)
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Walmart considering putting Asda on stock market - report

Walmart Inc. is accessing possibilities, which include an initial public offering, for its subsidiary Asda Group Ltd. following the United Kingdom's Competition and Markets Authority decision to block its merger with J Sainsbury plc, media reported on Thursday.

Besides a potential listing on the stock market, the retail giant may make an attempt to sell Asda to private equity or even keep supermarket chain, sources close to the matter told Bloomberg.

Earlier, Consumer group Which? and Unite union welcomed the deal's failure, stating it would have led to "increased prices, reduced quality and choice, and a poorer shopping experience."

Breaking the News / MD