Asda eyes move into Europe
Wal-Mart considering expansion from UK
Wal-Mart is considering taking the Asda supermarket brand into Europe as a route to expansion.
On a visit to Brussels to meet with senior European Commission officials, Wal-Mart chief executive Lee Scott said Asda could provide the world’s biggest retailer with a route into new European markets.
The UK chain, bought by Wal-Mart in 1999, has been the most successful of Wal-Mart’s two forays into Europe, outperforming the German operations acquired in 1997.
The [i]Financial Times [/i]reports that Scott said he could not think “of any country in Europe that we wouldn’t want to be in over the long course of time”. He added: “If you get an attractive deal in Europe at some point that would be an opportunity.
“But our growth internationally will be a combination of strategic acquisitions and greenfield opportunities. And we could have Asda stores in some different countries.”
In recent months, Wal-Mart has been linked with a potential bid for Carrefour, which is placed behind the US giant as the world’s second-biggest retailer. In February, the French company denied reports that its had received an informal takeover approach.
In Brussels, Scott is meeting EC competition commissioner Mario Monti, and consumer affairs commissioner David Byrne, both of whom would be involved in consideration of any major acquisition activity by Wal-Mart within the newly-expanded EU borders.
Shares in Carrefour, as well as rival European supermarket groups Ahold and Casino, also seen as potential takeover targets, rose in the wake of Scott’s comments.
