Walmart ‘seriously’ mulling an IPO for Asda unit

A Walmart store is seen in Landover, Maryland. — AFP Relaxnews

NEW YORK: Walmart Inc has confirmed it’s mulling an initial public offering (IPO) for its Asda unit after UK antitrust regulators blocked a planned merger with rival J Sainsbury Plc.

“While we are not rushing into anything, I want you to know that we are seriously considering a path to an IPO,” Judith McKenna, the company’s international chief, told employees at an internal event in Leeds, England, according to a summary of the event provided by the company. She said any preparations for going public would “take years.”