Walmart has shelved efforts to sell a majority stake in Asda so it can focus on running the business during the coronavirus pandemic.
The US retail titan had been seeking to offload a sizable shareholding in Asda following its failed merger with Sainsbury’s and was in talks with a number of interested private equity firms.
Walmart had been hoping to secure a deal that would have valued Asda at as much as $9bn.
However, according to CNBC, those discussions have been put on hold so it can free up more managerial bandwidth to run the business day-to-day during the health emergency.
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