Breaking news (retail)
Sainsbury's in 'advanced' discussions over £10bn-plus merger with Asda to create supermarket giant 72 Alan Tovey 28 APRIL 2018 • 3:15PM + Follow Save Sainsbury's is in talks about a £10bn-plus merger with Asda that could force the sale or closure of hundreds of stores across the UK to win the approval of competition regulators. Sainsbury's confirmed it was in “advanced” discussions with US retail giant Wal-Mart, which owns Asda, about a tie-up, a move which see the combined business overtake Tesco as the market leader in Britain. Such a combination would cause upheaval on the UK high street, creating what was described as a “game-changer of epic proportions” by one supermarket analyst. However, with more than 2,000 stores between Sainsbury's and Asda, watchdogs are likely to demand widespread disposals of outlets to stop dominating swathes of the UK retail market. It is thought an agreeme...