April 28, 2018 / 11:47 AM / a month ago

Sainsbury's and Walmart's Asda in talks about 10 bln stg merger - Sky News

LONDON, April 28 (Reuters) - Sainsbury’s, Britain’s second largest supermarket, and Walmart, the world’s biggest retailer, are in advanced talks about a tie-up that would create ‎a more powerful rival to UK market leader Tesco , Sky News reported on Saturday.

Sky News said the two companies are in negotiations about combining Walmart’s Asda business in the UK with Sainsbury’s in a 10 billion pound ($13.79 billion) deal.

It said an announcement could be made as early as Monday, or even sooner if the two sides are forced to accelerate their public disclosures. ($1 = 0.7254 pounds) (Reporting by James Davey Editing by Andrew Heavens)

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