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2/27, 2:21 AM (Source: TeleTrader)
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Walmart says would prefer Asda IPO over sale

Several private equity firms have approached US supermarket chain Walmart offering to acquire its stake in British retailer Asda, the American company revealed without saying what those firms were, noting that it sees an initial public offering as its preferred option for Asda at the moment.

Walmart remains "firmly" convinced that taking Asda public is an "attractive long-term objective" for the UK company, a joint statement read, clearing up doubts about the potential sale.

However, some of the people briefed on the matter noted that even though the US retail giant would be content with keeping a non-controlling stake in Asda, it is not considering a direct sale.

Breaking the News / GG