Home Business News Asda considering IPO after Sainsbury’s deal blocked

Asda considering IPO after Sainsbury’s deal blocked

by LLB Reporter
15th May 19 10:00 am

Asda’s US owner said they are “seriously considering” to float on the stock market in the UK after the proposed merger with Sainsburys was blocked.

The worlds biggest retailer, Walmart told Asda managers on Tuesday they are mulling listing Asda.

Judith McKenna, Walmart’s international chief executive said, “While we are not rushing into anything, I want you to know that we are seriously considering a path to an IPO, a public listing to strengthen your long-term success.”

She added, “Walmart does not have a one-size-fits-all approach to operating its international markets, but a consistent focus on strong local businesses powered by Walmart.”

In 1999 Asda was bought by Walmart for £6.7bn.

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