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Industry NewsWalmart pauses sale of Asda stake

Walmart pauses sale of Asda stake

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Walmart Inc. has put its sale of a majority stake in its U.K. grocery chain Asda on hold, according to reports by CNBC and Bloomberg, because it is focusing on managing unprecedented spikes in demand due to the coronavirus.

Walmart has more than 630 Asda stores in Britain, a market it entered in 1999. In recent years Asda’s market share has been eroded by German discounters Aldi and Lidl, while traditional rivals like Tesco Plc and J Sainsbury Plc have made big acquisitions to bolster their clout with suppliers.

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