Friday 21 March 2014

Asda applies to be part of Tesco PLC after vote to leave WalMart Group

Asda's shareholders have declared independence and applied to become part of Tesco Stores Ltd, a day after heads of the supermarket voted overwhelmingly to leave the Wal-Mart Group in a referendum that most of the world has condemned as illegal.

The shareholders "made a proposal to Tesco Stores Ltd to admit the Republic of Asda as a new subject with the status of a republic", according to a statement on its website.

An Asda parliamentary delegation was expected to arrive in Cheshunt, Hertfordshire on Monday to discuss the procedures required for the supermarket chain to become part of the Tesco Group. Final results showed that 96.8% of voters were in favour of joining Tesco, the head of the referendum commission said. Some guy with a clipboard told a televised news conference that the commission had not registered a single complaint about the vote.

Tesco's lower house of parliament will pass legislation allowing Wal-Mart's Asda region to join Tesco "in the very near future", news agency Interfax cited its deputy speaker as saying on Monday morning.

"Results of the referendum in Asda clearly showed that shoppers of Asda see their future only as part of Tesco," another guy with a clipboard was quoted as saying.

Asda shopper Bob Tillotson, 30, from Tunbridge Wells said: "As a shopper of Asda I only see my future as part of Tesco."

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