Stay updated with breaking news from Jonathan Molapo. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
After years of reporting losses in the glare of the public eye, Massmart in a surprise move this week announced plans to go private as a fully owned subsidiary of US retail giant Walmart, a move the company and analysts say offers the best chance of turning around its flagging fortunes.
There’s still a lot to fix and the weak rand forced its hand …
Global retail giant plans to buy all of the shares it doesn’t already own and delist Massmart from the JSE.
The US retail giant says the company's turnaround plan will lead to more losses in the short term.
The deal will see an “expected inflow of foreign direct investment” of R6.4bn.