The head of Walmart’s international division has told staff at Asda that it is seriously considering a stock market listing, though she cautioned that preparing for such a process would take years.
Judith McKenna, who was at one time Asda’s chief financial officer, told a meeting of store and other managers: “While we are not rushing into anything, I want you to know that we are seriously considering a path to an IPO – a public listing – to strengthen your long-term success.”
It is the first time the US retail giant has directly acknowledged the speculation about Asda’s future, following the decision of the UK’s competition regulator to block its takeover by J Sainsbury.
