Asda owner Walmart mulls sale after failed Sainsbury’s merger

World .
Asda owner Walmart mulls sale after failed Sainsbury’s merger
  • Asda owner Walmart is looking to sell the grocer after the proposed Sainsbury’s merger collapsed
  • British grocers remain an unappealing investment for a float on the London Stock Exchange
  • Walmart has been reportedly approached by B&M

The news comes after the CMA blocked Asda’s proposed merger with Sainsbury’s two weeks ago, which would have resulted in Walmart having a 42 per cent in the combined business. Nevertheless, British grocers remain as an unappealing investment for a float on the London Stock Exchange as recent years have seen grocery market shifting.

Consumers are now shopping once a week at one of the Big 4 – Tesco, Sainsbury’s, Asda and Morrisons – to a mix of convenience shops and online shopping while discounters such as Aldi and Lidl continue to win market share.

Meanwhile, Walmart has been reportedly approached by discounter B&M. Walmart International boss Judith McKenna has said she will ensure Asda remains competitive in the UK market after the CMA’s decision. https://www.retailgazette.co.uk/blog/2019/05/asda-owner-walmart-mulls-sale-failed-sainsburys-bid/

 

SME