Asda looking for stock market listing following CMA ruling

Latest News | Mergers & Acquisitions | National | Retail

Following last month’s ruling by the Competition and Markets Authority (CMA) that saw the potential merger of Asda and Sainsbury’s ruled out – Asda is reportedly looking into the possibility of being listed on the stock market.

Asda’s owners have been looking into new avenues for the business following the CMA announcement.

Walmart chief executive Judith McKenna told the staff at Asda that the listing is being strongly considered.

McKenna said: “While we are not rushing into anything, I want you to know that we are seriously considering a path to an IPO – a public listing – to strengthen your long-term success.

“The UK remains one of the most competitive retail markets in the world and Asda’s seven consecutive quarters of year-on-year growth show it is a strong business with a clear strategy and focused leadership.

“While we’re disappointed by the CMA’s final report and conclusions, our focus now is continuing to position Asda as a strong UK retailer delivering for customers. Walmart will ensure Asda has the resources it needs to achieve that.”

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