EDITORIAL: Walmart’s plan to unlock value in Massmart is tinged with pain
Group’s R6.4bn offer to buy out minorities and go private sounds like cheekiness laced with a whiff of opportunism
01 September 2022 - 05:10
UPDATED 01 September 2022 - 05:10
Mitchell Slape, outgoing Massmart CEO, failed to keep shareholders on his side with what looks like a coherently laid out turnaround plan for Walmart’s ailing SA subsidiary.
The solution: pitch a R6.4bn bid to buy out minority shareholders and take the business private, away from the scrutiny of the analysts and investors who have largely lost patience with the retailer that trails rivals operationally and in the stock market. ..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
This article is free to read if you sign up or sign in.
If you have already registered or subscribed, please sign in to continue.
Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.