Wally World enters Africa

It looks like Walmart is making its first inroads into the wild frontier of world markets, Africa. Two weeks ago South Africa's Competition Commission approved the company's purchase of a 51% stake in South Africa's largest food retailer, Massmart. Though largely approved by Massmart's shareholders, the deal has attracted the ire of The South African Congress of Trade Unions which promises "the mother of all boycotts" should the deal go through. For $2.3 billion it appears Walmart has opened the door to the wild new frontier of African commercial markets, as well as a dominating position over the food producers of the continent. Facing the vast resources of a multinational corporation, the other domestic food retailers of South Africa stand little chance of survival in the longterm. http://www.economist.com/node/18185732?story_id=18185732