Walmart retreats from its UK Asda business to hone its focus on competing with Amazon

Walmart’s strategy to get itself fighting fit against Amazon saw one more development today. This morning, UK supermarket chain Sainsbury’s announced a deal with Walmart to buy a majority stake in Asda, Walmart’s wholly-owned UK subsidiary. The deal values Asda at £7.3 billion, and (if it closes) will net Walmart £2.975 billion in cash, a […]