August 2, 2011 / 3:30 PM / in 6 years

Wal-Mart, Massmart to ready answer for South Africa

JOHANNESBURG (Reuters) - Wal-Mart Stores (WMT.N) and Massmart (MSMJ.J) said on Tuesday they planned to answer the South African government’s appeal of their $2.4 billion dollar tie-up, but declined to make any immediate comment.

    South Africa said it would push Wal-Mart to rejig the conditions of its 51 percent acquisition of Massmart, as Pretoria looks to wring bigger conditions from the world’s top retailer.

    The retailers declined to further comment, citing legal proceedings currently underway.

    Reporting by David Dolan

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