Wal-Mart Mulls Smaller Massmart Share

BENTONVILLE, Ark. — Wal-Mart Stores may scale back its planned acquisition of Massmart, the South African retailer said Thursday.

Wal-Mart in late September made a non-binding $4.6 billion offer to acquire all shares of Massmart, the leading African retailer of general merchandise, home improvement equipment, food and supplies, with 290 stores in 13 countries. Johannesburg-based Massmart said that Wal-Mart had informed the company it was investigating a “partial offer” to acquire in excess of 50% of the shares of the company and leave the remainder with public markets.