Massmart into Wallmart

Wal-Mart Stores Inc , has made a formal bid to pay $2.1 billion for control of South Africa's Massmart, a deal that would give the world's largest retailer a major foothold in fast-growing Africa. Wal-Mart would pay 148 rand for a 51 per cent stake in the South African discount retailer, valuing the deal at 15.2 billion rand ($2.13 billion)