I bought Massmart shares, after going shopping at Makro and I was impressed with the volumes of trades and how much each person was buying, despite the fact that there is a recession. I never had any idea at all that Walmart would come along and make a R34 billion offer to buy them out. That obviously has sent the share price rocketing up, but the 15 000 staff members of Massmart will be quite excited, because they all took part in the company’s share stream and are apparently going to walk away with about R100 000,00 each!
The Executive President of Walmart indicated that Walmart was investing in South Africa because, “SA is a true emerging market, with good GDP growth and an emerging consumer who has a desire and need for a traditional, low priced proposition.”