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Oct. 21 (Bloomberg) — Wal-Mart Stores Inc. may be looking at entering the South African market in the next five years and has been “sniffing around†for opportunities in Africa’s largest economy, Pick n Pay Stores Ltd.
Chief Executive Officer Nick Badminton said at a presentation in Johannesburg today. Pick n Pay, South Africa’s second-largest grocery chain, met with Wal-Mart “out of courtesy,†he added. The world’s largest retailer also met distributors in South Africa, Badminton said.
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