The boss of Asda has today insisted that the owners of the supermarket are still ‘in it for the long-haul’ despite reports that one of the billionaire Issa brothers who owns the business is looking for a way out.
At a hearing before Parliament in December, Mohsin Issa was questioned over his commitment to the decades-old firm he bought in 2021 in light of the complex offshore ownership structure which would help reduce the tax bill in the event it was sold. Mohsin Issa told MPs he was “in it for the long haul,” adding he was seeking to expand Asda’s store estate.
