Walmart Inc’s local unit in the UK, Asda said it could execute a possible initial public offering (IPO) in the next three years.
To buttress his point, Asda’s Chief Executive Roger Burnley told Reuters that “If I was a betting man, I just think that is the sort of time the process will probably take.”
When he was asked whether Walmart would retain a majority stake after the IPO, he said: “I very much think so.”
It would be recalled that the UK regulator blocked a proposed merger between Sainsbury and Asda. The merger would have created $9.2 billion company.
