Walmart Puts All of Asda up for Sale

By Gary Cutlack on at

US shopping giant Walmart is once again trying to sell some or all of its stake in UK supermarket chain Asda, and has told its suits department to begin soliciting buyout offers afresh.

It doesn't sound like anything as seismic and troubling to competition watchdogs as a sale to a rival supermarket is on the cards, though, as Walmart says it's talking to "...a small number of third-party investors" about the sale. So asset-stripping venture capitalists it is, perhaps?

The sale of part of Asda would be to "...explore options for a third party to invest in our business to accelerate the long-term delivery of our value strategy" so it sounds more like Walmart is looking to sell only a sizeable percentage of the UK business, in return for money to pump into sneeze guards and employing face mask bouncers. [Reuters]