--Former Debenhams Chief Executive Rob Templeman and former Asda Chief Executive Paul Mason are working with private-equity firms Apollo Global Management and Lone Star Funds, respectively, to lead rival bids for Walmart's U.K. business Asda, Sky News reports.

--The auction for Asda is likely to conclude before the end of this year and Walmart is expected to retain a minority stake, Sky News says.

--The deal is valued at 6.50 billion pounds ($8.59 billion), Sky News reports.

Full story: https://bit.ly/3j1BZ8y

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(END) Dow Jones Newswires

August 21, 2020 03:42 ET (07:42 GMT)

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