Wal-Mart Inching Closer to Buying South Africa’s Massmart

South Africa’s competition watchdog has recommended that Wal-Mart Stores’ proposed takeover of the country’s retail chain Massmart be unconditionally approved without conditions. Wal-Mart made a $2.4 billion bid for Massmart in November, and a vast majority of the target company’s shareholders voted to approve the deal last month.