Shares in Massmart surged 46% after the company announced the news on Monday, as its Chairman Kuseni Dlamini said the offer seems “fair and reasonable.”The world’s biggest retailer had acquired a 51% stake in Massmart in 2010 for $2.3 billion, an investment that was seen as an outlay to use South Africa as a base to grab a share of the so-called ‘Africa growth story.’
But it has struggled…
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