Sainsbury's and Asda in merger talks
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Merger talks between British supermarket chains Sainsbury's and Asda are at an "advanced" stage, Sainsbury's has confirmed.
The two brands are expected to be retained should a merger go ahead.
Sainsbury's and Asda - the UK arm of Walmart - are the second and third largest supermarkets in the UK.
The combined group would comprise 2,800 stores and would represent 31.4% of the UK grocery market - slightly more than that of market leader Tesco.
"Sainsbury's confirms that it and Walmart Inc. are in advanced discussions regarding a combination of the Sainsbury's and Asda businesses," a statement from its holding company, J Sainsbury plc, said.
BBC News
The two brands are expected to be retained should a merger go ahead.
Sainsbury's and Asda - the UK arm of Walmart - are the second and third largest supermarkets in the UK.
The combined group would comprise 2,800 stores and would represent 31.4% of the UK grocery market - slightly more than that of market leader Tesco.
"Sainsbury's confirms that it and Walmart Inc. are in advanced discussions regarding a combination of the Sainsbury's and Asda businesses," a statement from its holding company, J Sainsbury plc, said.
BBC News
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