Wal-Mart Stores Inc , has made a formal bid to pay $2.1 billion for control of South Africa's Massmart, a deal that would give the world's largest retailer a major foothold in fast-growing Africa. Wal-Mart would pay 148 rand for a 51 per cent stake in the South African discount retailer, valuing the deal at 15.2 billion rand ($2.13 billion)
good one
but what is massmart
Massmart engages itself in the distribution of branded consumer goods for cash, through 288 stores in 14 countries in sub-Saharan Africa
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