JOHANNESBURG (Reuters) – U.S Walmart Inc, which owns a majority stake in South Africa’s Massmart, has proposed to buy the remaining shares in the retailer at 62 rand ($3.65) each, Massmart said on Monday as its half-year loss widened.
If the offer is made and implemented, it would result in the delisting of Massmart, Massmart said.
($1 = 16.9872 rand)
(Reporting by Nqobile Dludla; Editing by Tom Hogue)