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Shoprite's Wiese Says He'll Learn From Ended Steinhoff Talks

  • Discussions weren’t a waste; retailers got to know each other
  • Shoprite looking at expansion outside Africa as profit rises
A Shoprite Holdings Ltd. store in Cape Town, South Africa, on Dec. 21, 2016.
Photographer: Dean Hutton/Bloomberg
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Shoprite Holdings Ltd. Chairman Christo Wiese kept the door open for future cooperation with Steinhoff International Holdings NV, saying the two retailers had learned more about each other from failed merger talks.

The companies, in which the billionaire owns stakes of 16 percent and 23 percent respectively, called off a plan to combine their African assets on Monday after failing to agree on price. The deal would have created the continent’s biggest retailer, with sales of more than 200 billion rand ($15 billion).