Wal-Mart’s UK arm Asda considers bid for HMV: report

Asda, the British arm of US retailer Wal-Mart Stores Inc, is considering a bid for collapsed music retailer HMV, the Telegraph reported.

Asda is interested in buying HMV’s brand and business and is not just looking to purchase former HMV stores to convert into convenience food shops, the Telegraph reported, without saying where it got the information.

Asda, Britain’s second-biggest supermarket group, has held talks with Deloitte, administrators to HMV, the Telegraph said.

Representatives for Asda and Deloitte could not be reached for comment outside office hours.

via Business feed http://www.scmp.com/business/companies/article/1189720/wal-marts-uk-arm-asda-considers-bid-hmv-report