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4/2, 7:52 PM (Source: TeleTrader)
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Walmart puts off sale of UK retailer Asda - report

Walmart Inc. postponed the sale of its majority stake in British retailer Asda, as it focuses on running the regular business amid a surge in demand for groceries due to coronavirus pandemic.

Asda attracted interest from several private equity firms, but it is uncertain when Walmart will proceed with the sale, CNBC reports, citing sources familiar with the matter. Some potential buyers are reportedly valuing the UK-based supermarket chain at $9 billion.

Walmart's leadership is now paying full attention to a changing landscape in which retailers are operating and plans to hire 150,000 hourly workers in the United States by the end of May.

Breaking the News / SR