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Walmart mulls sale of Asda stake

The US owner of Asda is considering the sale of a majority stake in the UK grocer. 

Walmart could offload the stake after being approaching by potential buyers, Bloomberg has reported. However, it is likely to maintain a significant minority stake. 

Walmart said it is in talks with a small number of interested parties, including private equity businesses, but no decisions have yet been made. 

Walmart first bought Asda in 1999 for £6.7bn. It comes after the Competition and Markets Authority (CMA) blocked Asda’s merger with Sainsbury’s last April. 

Walmart has been contacted for comment.

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