Wal-Mart (WMT) confirms it made a formal $2.3B offer for a 51% stake in South Africa's Massmart...

|About: Wal-Mart Stores, Inc. (WMT)|By:, SA News Editor

Wal-Mart (WMT) confirms it made a formal $2.3B offer for a 51% stake in South Africa's Massmart (MMRTY.PK), and Massmart recommends shareholders accept the deal. The tie-up will speed Massmart's sub-Saharan Africa expansion and give Wal-Mart a strong presence in the region. (previously)