Massmart Offloads Stake To OK As SA Retailers Send Out Mixed Signals

South Africa's leading retailers are sending out mixed signals about Zimbabwe, where the ongoing economic recovery (led principally by the dropping of the Zimbabwean dollar and the subsequent introduction of the US dollar as legal barter in 2009) is re-opening possibilities on the consumer side. Shoprite is taking stock while Pick 'n' Pay, eager to strengthen its exposure to wider Africa, is due to bump up its stake in the domestic retailer TM to 49% from 25%. Now Massmart, which is expected to be bought by Wal-Mart for more than US$2bn in 2011, has thrown its hat out of the

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