Sainsbury's and Walmart's Asda in talks about 10 billion pound merger: Sky News

[April 28, 2018]    LONDON (Reuters) - Sainsbury's <SBRY.L>, Britain's second largest supermarket, and Walmart <WMT.N>, the world's biggest retailer, are in advanced talks about a tie-up that would create ‎a more powerful rival to UK market leader Tesco <TSCO.L>, Sky News reported on Saturday.

An ASDA employee walks beneath a company logo outside a store in Manchester, northern England, July 8 , 2016. REUTERS/Phil Noble/File Photo

Sky News said the two companies are in negotiations about combining Walmart's Asda business in the UK with Sainsbury's in a 10 billion pound ($13.79 billion) deal.

It said an announcement could be made as early as Monday, or even sooner if the two sides are forced to accelerate their public disclosures.

(Reporting by James Davey; Editing by Andrew Heavens)

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