Wal-Mart Set To Scale Back Massmart Bid

After submitting a non-binding offer to acquire all of Massmart?s listed capital at ZAR148 per share in September 2010, Wal-Mart now looks more likely to acquire a majority stake after negotiations with some of Massmart?s major shareholders, many of whom would like Massmart to retain its listing on the Johannesburg Stock Exchange in view of a much stronger growth outlook were Wal-Mart to close.

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