UK supermarket giant Sainsbury says in merger talks with Asda

London (AFP) – Britain’s supermarket chain Sainsbury said Saturday it was in talks to merge with rival Asda, in a deal that would create a retail giant with around 30 percent share of the British market.

“Sainsbury’s confirms that it and Walmart Inc. are in advanced discussions regarding a combination of the Sainsbury’s and Asda businesses,” Sainsbury said in a statement.