Pick 'n' Pay Equity Investment Hanging In The Balance

The plans of South Africa's second biggest food retailer, Pick 'n' Pay, to increase its exposure to Zimbabwe appear to have run into trouble. The Zimbabwean government has reportedly intervened and put the brakes on the retailer's bid to acquire another 25% in the domestic retailer TM on the grounds that its majority shareholder Meikles is not fully complying with the indigenisation

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