A consortium led by the brother bosses of EG Group and TDR Capital has been chosen by Walmart (NYSE:WMT) as the popular bidder for Asda, in keeping with Sky Information.
The long-awaited sale of a controlling stake in Asda would see it return to majority British possession for the primary time since 1999. Walmart has been weighing what to do with Asda since a merger with rival Sainsbury was scuttled by British regulators two years in the past.
Shares of Walmart are up 0.60% premarket to $138.10.
Dig into why Walmart earns a profitability grade of A+.