Asda May Branch out Into Europe

Asda may branch into Europe under Wal-Marts wing. The supermarket brand on a visit to Brussels met with senior European Commission officials and Wal-Mart chief executive Lee Scott said Asda could provide the world's biggest retailer with a route into new European markets.

The UK chain, bought by Wal-Mart in 1999, has been the most successful of Wal-Mart's two forays into Europe, outperforming the German operations acquired in 1997.

The Financial Times reports that Scott said he could not think "of any country in Europe that we wouldn't want to be in over the long course of time". He added: "If you get an attractive deal in Europe at some point that would be an opportunity.

In recent months, Wal-Mart has been linked with a potential bid for Carrefour, which is placed behind the US giant as the world's second-biggest retailer. In February, the French company denied reports that its had received an informal takeover approach.