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219.6p 4.4  2.0%

Last Trade - 18/09/20

Sector
Consumer Defensives
Size
Large Cap
Market Cap £21.51bn
Enterprise Value £33.86bn
Revenue £64.76bn
Position in Universe 54th / 1807

BREAKINGVIEWS-Walmart’s UK exit will be priced to sell

Fri 24th July, 2020 9:10am
(The author is a Reuters Breakingviews columnist. The opinions expressed are her own.) By Aimee Donnellan LONDON, July 24 (Reuters Breakingviews) - The $375 bln retailer is once again trying to flog a stake in its British chain Asda. Convincing an investor to match the $9 bln J Sainsbury offered in 2018 looks fanciful given weak growth, Brexit risks, and the legacy of the pandemic. The main appeal may be a willing seller. Full view will be published shortly. On Twitter https://twitter.com/aimeedonnellan CONTEXT NEWS - Walmart has restarted talks with potential investors over the sale of a majority stake in its UK supermarket chain Asda, a company spokesman said on July 20. - The talks had been put on hold in April, so Asda’s management could focus on dealing with the impact of the Covid-19 crisis. - Walmart originally planned to list the grocer after UK regulators blocked its plan to combine the unit with rival J Sainsbury in 2019. In February, Walmart said it was in talks with possible buyers for a majority stake in the group. - For previous columns by the author, Reuters customers can click on DONNELLAN/ - SIGN UP FOR BREAKINGVIEWS EMAIL ALERTS http://bit.ly/BVsubscribe <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ UPDATE 1-Walmart restarts talks on possible sale of Asda stake urn:newsml:reuters.com:*:nL5N2ER3JQ ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Editing by Neil Unmack and Oliver Taslic) ((Aimee.Donnellan@thomsonreuters.com; Reuters Messaging: Aimee.Donnellan.thomsonreuters.com@reuters.net))
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