Walmart in early talks to sell controlling stake in Asda

Walmart, the world’s largest retailer, is in early talks to sell its controlling stake in Leeds-headquartered supermarket, Asda.

The announcement comes less than a year after Asda’s planned £7.3 billion merger with Sainsbury’s was scuppered after regulators ruled it would stifle competition.

According to person with knowledge close to the talks, Walmart would maintain a significant minority stake under any deal.

A joint statement from Walmart and Asda said: “Together, we are in discussions with a small number of interested parties who share Walmart and Asda’s commitment and passion to growing the business.

“No decisions have been made and we will not be commenting further on these discussions. If or when we decide to pursue this opportunity further our first priority will be to share more detailed information with our colleagues.”