Sainsburys and ASDA are in advanced talks about a merge that would create a more powerful rival to UK market leader Tesco, it has been reported.
The two companies are in negotiations about combining Walmarts Asda business in the UK with Sainsburys in a £10,000,000,000 deal.
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According to Sky News, an announcement could be made as early as Monday.
However things could be confirmed even sooner if the two sides are forced to accelerate their public disclosures.
It is currently unclear how the deal would be structured.
The combined group would retain the Sainsburys name, though Asda stores would continue to trade under their existing banner, a source said.
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The source added that Mike Coupe, Sainsburys chief executive, would lead the combined group.
More to follow.
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