Is Supermarket Giant Walmart Heading Down Under?
In what could be a big result for Aussie shoppers, American retail giant Walmart may be coming down under for a slice of the market.
In a move that would drastically ramp up the supermarket wars, Walmart is eyeing off a move after years of dominance in the US market.
With news that Coles could be demerged and floated on the Australian Stock Exchange as a separate company by its owner Wesfarmers.
Some experts believe investing in Coles would be the perfect chance for Walmart to enter the Aussie market.
Sue Mitchell from the AFR revealed how a similar merger in the UK of Asda/Walmart with Sainsburys freed up billions in capital for Walmart.
Kevin Moore, writing for business website Smart Company, said now is the perfect time for U.S. companies to invest in Australia, with the dollar high and the nation experiencing good growth in employment and the retail sectors booming.
If its demerged, Coles would become a new top 30 listing on the ASX and Wesfarmers plans on retaining a 20% ownership of the supermarket giant.