Walmart looks to sell controlling stake in Asda

The US owner’s of Asda, Walmart, have confirmed they are looking to sell a major stake in the UK supermarket.

The US giant has said that following “inbound interest” it is in talks with a number of parties regarding an opportunity to invest in the Leeds headquartered supermarket.

A statement said: “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.”

This follows an announcement last year that the world’s largest retailer was considering a future stock market listing for Asda after its failed merger with Sainsbury’s.