Walmart puts partial sale of UK's Asda on hold due to coronavirus crisis: source
Reuters
Published Apr 02, 2020 01:48PM ET
LONDON (Reuters) - Walmart (N:WMT), the world's largest retailer, has put the possible sale of a majority stake in its British supermarket arm Asda on hold until the coronavirus crisis is over, said a person familiar with the situation.
The U.S. group had said in February it was talks with possible buyers of a stake in Asda, which it failed to combine with UK rival Sainsbury 's (L:SBRY) last year.
However, Walmart has now paused the process so that Asda Chief Executive Roger Burnley and his leadership team can fully focus on responding to the current health emergency.
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Written By: Reuters
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