Wal-Mart Offers to Buy 51% of Massmart

BENTONVILLE, Ark. — Wal-Mart Stores here on Monday said it has offered to acquire 51% of the shares of Massmart Holdings Limited, the diversified South African retailer, for about $2.4 billion.

BENTONVILLE, Ark. — Wal-Mart Stores here on Monday said it has offered to acquire 51% of the shares of Massmart Holdings Limited, the diversified South African retailer, for about $2.4 billion.

Wal-Mart had previously disclosed it was discussing the acquisition of the whole company for $4.6 billion. The deal would give Wal-Mart its first presence in Africa.

"The more we learn about South Af

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