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Funds News

Walmart expects UK regulator to consider Asda disposal

LONDON, Oct 2 (Reuters) - The boss of Walmart’s international arm said the group expected Britain’s competition regulator to examine the sale of its Asda supermarket chain to the billionaire Issa brothers and private equity group TDR Capital.

“We fully expect the CMA (Competition and Markets Authority) to take a look at this and we’ll work with them at every step of the way,” Judith McKenna, President and Chief Executive Officer of Walmart International told Reuters on Friday.

“We know they look at every single deal that crosses their desk differently, so we’ll provide them with everything that they need,” she said.

Last year the CMA blocked Walmart’s attempt to sell Asda to rival Sainsbury’s for 7.3 billion pounds ($9.45 billion).

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