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.
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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