Walmart is considering an IPO for its UK unit, Asda.
Last month regulators blocked a takeover by local rival Sainsbury's.
Now the company says it is seriously tempted by a public listing instead.
Though Walmart International boss Judith McKenna says that could take years to plan.
The world's biggest retailer has been keen to exit the UK.
It's one of its slowest growing international markets.
Established players like Asda have seen low-cost rivals like Aldi and Lidl grab market share.
That left the 9.4 billion dollar sale to Sainsbury's as Walmart's preferred option.
But competition watchdogs said the tie-up would be bad for consumers.
Now McKenna's comments are Walmart's first public response.
No word yet on how much an Asda IPO might raise.
But the company is far from struggling.
It's posted seven straight quarters of like-for-like sales growth.
Analysts expect an eighth when it gives a trading update on Thursday (May 16).