By Luke Tugby2019-05-15T06:26:00
Walmart is mulling a move to list Asda on the stock exchange following the collapse of its merger with rival Sainsbury’s.
The US retail titan’s international boss Judith McKenna told staff the business was “seriously considering” an IPO in a bid to achieve “long-term success” for the grocer.
Speaking at a meeting of 1,200 of Asda’s store, warehouse and head office staff at its Leeds HQ yesterday, McKenna said Walmart was “not rushing” the move and admitted that the potential return to public ownership would “take years”.
Details of Walmart’s ambitions to launch an IPO emerged just three weeks after the Competition and Markets Authority blocked plans for Asda to merge with Sainsbury’s in a £13bn deal.
Please sign in now if you have a subscription
Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.
Register today for a taste of our high-quality intelligence and enjoy:
Discover Retail Week register now
Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.