Wal-Mart tipped as potential acquirer of Tesco
Wal-Mart, the Bentonville, Arkansas-based retail giant, is rumoured to be a possible bidder for UK-listed supermarket chain Tesco, the Daily Mail reported. The market report said NYSE-listed Wal-Mart could easily afford its smaller British counterpart, which has seen its share price drop 40% over the past year.
Any deal would be bound to attract the interest of competition regulators as a merger would result in a single entity cornering 46% of the grocery market in the UK, the report said.
Tesco has an GBP 18.12bn (USD 30.05bn) market capitalisation, while Wal-Mart’s market cap is more than USD 243bn.
Source Daily Mail