Walmart is 'seriously' considering an IPO for Asda unit

Walmart Confirms It's ‘Seriously’ Mulling an IPO for Asda Unit

Walmart mulls stock market listing for UK arm Asda

The likelihood of a bleak future will not make Asda attractive to potential stock market investors. Last year, it was announced that Asda had agreed to be taken over by Sainsbury's in a £7bn deal, but the Competition and Markets Authority last month blocked the deal on concerns it could increase prices, reduce quality and choice, or deliver "a poorer shopping experience for all their United Kingdom shoppers".

AMERICAN multinational retail giant, Walmart is seriously considering a stock market entry for its British supermarket arm Asda.

"Walmart does not have a one-size-fits-all approach to operating its worldwide markets, but a consistent focus on strong local businesses powered by Walmart".

Any preparations for going public would "take years", she said.

Analysts suggested talk of an IPO indicated that Walmart was struggling to find a plan B for its United Kingdom business, having failed to offload it into a merger with Sainsbury's.

Walmart has revamped its global portfolio by selling a majority stake in its Brazilian business and acquiring a majority interest in Indian e-commerce leader Flipkart Group in its biggest-ever deal.

"If the big four [British supermarkets] want to keep their market shares they will have to sharpen their prices in the face of rapidly expanding cost players Aldi and Lidl".

GMB national officer Gary Carter said there was "uproar among the workforce" over plans to change Asda employees' contracts.

"It would be good for the market if Asda does IPO", he said, "as it would have to disclose more information than it does now as part of Walmart".

Asda CEO Roger Burnley said the supermarket chain plans to "accelerate our price position", briefing staff on plans to invest £80 million ($103.3 million) in the price throughout the rest of 2019, CNBC said.

Tim Hortons testing Beyond Meat breakfast sandwiches at 60 GTA locations
Nepal's mountaineer KR Sherpa conquers Mt Everest for 23rd time