American retail giant, Walmart, which is already the majority 53% shareholder in Massmart, has proposed a R6.4-billion cash, buy-out offer for the shares it does not already hold in the SA-based retailer, a likely prequel to a major restructuring of the stressed group.
Walmart buying the remaining shares of Massmart would give the struggling retailer financial and operational support to help turn it around, the group said
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