Walmart resumes talks to sell Asda

US retailer Walmart has restarted talks regarding a potential sale of Asda having halted previous negotiations in the wake of the Covid-19 pandemic.

Walmart and Asda revealed on Monday that the pair were in discussions with a "small number" of potential suitors interested in acquiring a stake in the unit following some renewed inbound interest, according to Bloomberg.

"We believe now is the right time to explore options for a third party to invest in our business to accelerate the long-term delivery of our value strategy, both in stores and online," the two companies said.

However, the pair also highlighted that there was no certainty that the latest round of discussions would lead to a transaction.

As of 1550 BST, Walmart shares were down 0.09% at $131.62 each.