Wal-Mart Stores has a gained regulators approval to buy stake in Massmart Holdings, Bloomberg reports. The Competition Commission of South Africa has cleared the $2.3 billion bid for a 51% stake in Massmart.
Wal-Mart had earlier offered to acquire full control of Massmart for $20.34 a share. Wal-Mart is seeking to use Massmart to pilot its expansion in the sub-Saharan region.
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