Post date: Sep 27, 2010 1:51:9 PM
Wal-Mart is in talks to buy South Africa's Massmart, a $4 billion deal that would give the U.S. retailer a big presence in fast-growing Africa and bolster its emerging markets strategy.
SAFRICA-WALMART - The world's largest retailer is considering an African adventure.
Walmart is in talks with Massmart - South Africa's third largest retailer.
The 4 billion dollar deal would give the U.S. retailer a significant presence in Africa.
Weakness in the U.S market has prompted Walmart to look for expansion abroad.
Buying Massmart would give them a network of stores in Africa's biggest economy and a foothold in 13 other African countries.
The continent is home to a billion consumers, has an emergeing middle class and some of the world's fastest growing markets.
Sonia Legg, Reuters.