Walmart 'in discussions' to sell stake in Asda

Walmart says it may sell off part of Asda, its UK supermarket chain, after “inbound interest” in the idea.

The US retail giant said it was talking to a “small number of interested parties” about a possible deal.

It comes after UK regulators blocked Walmart’s plan to merge Asda with Sainsbury’s last year due to competition concerns.

Walmart said it would retain a significant stake in Asda if it did sell shares in the business.

“Asda is a great business with a clear strategy for the future and Walmart is committed to ensuring it has the resources and support it needs to deliver that strategy,” Walmart said in a statement.

“No decisions have been made and we will not be commenting further on these discussions. If or when we decide to pursue this opportunity further our first priority will be to share more detailed information with our colleagues.”