Walmart Considers Scaling Back Massmart Plans
This would allow Massmart to maintain its listing on the Johannesburg Stock Exchange, The Wall Street Journal reported.
The two companies have been in talks and Walmart has made a non-binding proposal to buy the company for 32 billion rand ($4.53 billion). Walmart has not tabled a formal offer.
Taking a stake in Massmart would match Walmart's strategy in Mexico, where it owns 68% of Walmart de Mexico, Latin America's largest retailer.