Pick 'n' Pay To Accelerate As Shoprite Stalls

Leading South African retailer Pick 'n' Pay looks set to increase its exposure to re-emerging Zimbabwe with reports suggesting it will increase its equity in the domestic retailer TM to 49% from 25% as the latter looks to recapitalise. While we recently argued that it made sense for South Africa's other leading retailer Shoprite to play a waiting game in Zimbabwe (see our online service, September 10 2010, 'Shoprite Continues To Hold Off'), we have a different view on Pick 'n' Pay.

To read the full article, please choose one of the following options: