US giant Walmart is to set up a London team to launch into Europe.

According to the Independent on Sunday, Walmart will bring a team to London to look at opportunities for European takeovers and mergers.

Walmart, which owns Asda, has hired Cushman & Wakefield to search for office space in west London to house around 35 to 55 people.

A spokesman said: “We are always looking for business opportunities all over the world.”

Walmart boss Mike Duke said last week: “Walmart International continues to be the growth engine for the company, increasing sales at 11.5%.”

Walmart is currently agreeing a deal to take over Massmart in South Africa.