2/26, 7:40 PM (Source: TeleTrader)
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Walmart in talks to sell its Asda stake

United States retail giant Walmart said on Wednesday that it is in talks with a "small number of interested parties" regarding possible selling off its majority stake in the United Kingdom's supermarket chain Asda.

In their joint statement, the companies said that they "are currently considering whether there is an opportunity for a third party to invest in Asda, alongside Walmart, in order to support and accelerate the delivery of Asda’s strategy and position Asda for long term success."

The decision came after last year UK regulators refused Walmart's plan to merge Asda with another UK chain - Sainsbury's because they said it would raise consumer prices.

Breaking the News / TF