May 19, 2020 / 3:51 PM / 2 months ago

Asda CEO expects resumption of stake sale talks when Walmart ready

CEO of ASDA Roger Burnley, poses for a photograph at an event in London, Britain, July 3, 2019. REUTERS/Peter Nicholls

LONDON (Reuters) - Talks between Walmart (WMT.N) and possible buyers of a majority stake in its British supermarket Asda will likely resume when the industry settles into a “new norm” with the worst of the coronavirus crisis behind it, the boss of Asda said on Tuesday.

Last month Walmart, the world’s biggest retailer, put talks on the possible sale of a big stake in Asda on hold so management could focus on dealing with the impact of the pandemic.

“There’s every possibility they will resume at a point in time but only when Walmart feel that is right,” Asda CEO Roger Burnley told Reuters.

“There’s no reason for that not to come back on the table at the appropriate time when it feels like...we have a new norm and we’re able to embrace that,” he said, adding: “I don’t think at all that interest would have waned.”

Reporting by James Davey, editing by andy Bruce

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