Walmart to sell UK unit as it focuses on other markets

LONDON — Walmart is selling its British unit, Asda, to local rival Sainsbury’s for 7.3 billion pounds ($10.1 billion), a deal that lets the world’s largest retailer focus on online sales in countries where it has stronger growth prospects and faces less-intense competition.The cash and stock deal will reshape Britain’s supermarket industry. It combines the No. 2 and No. 3 supermarket chains, with a total 31.4 percent share of the market that would put it ahead of the current […]