Walmart looks to offload Asda after failed merger

US retail giant Walmart is reportedly looking to sell Asda following a botched merger attempt with Sainsbury’s.

According to This is Money, sources say that Walmart is looking at a potential IPO which would see Leeds-based Asda launch on the London Stock Exchange.

However there are also reportedly other options including an outright sale, with private equity investors, and even low price retail business and FTSE250 company B&M apparently circling.

It would be an interesting turn of events, as back in 2017 Asda was looking to buy B&M itself in a deal which would have been worth £4bn.

Plans to create a mega-supermarket with a £7bn merger between Sainsbury’s and Asda were blocked after the Competition and Markets Authority declared that the deal would mean a serious lessening of competition across the UK.

Asda and Sainsbury’s have been battling it out for the number two spot behind Tesco for the past few months, while German retailers Lidl and Aldi continue to gobble up market share.

The rise of the European rivals has been particularly painful for Asda who had previously occupied to lower cost area of the food shopping market.

Asda has been contacted for comment.