On Monday, Wal-Mart Stores Inc., which is the world's leading retailer, proposed to acquire Massmart Holdings Ltd., for no less than $4.26 billion, which could be its biggest deal in over 10 years, as it looks for opportunity to enter the increasingly growing market in Africa.

Massmart's manages stores in more than 290 stores in 13 different nations, wherein, most of them are in South Africa.

International markets have been helping Wal-Mart to rake in money at wide level, which is almost quarter of the total proceeds, since growth in the U. S. has become sluggish.

Ranging from Chile to China, Wal-Mart has bought stakes in local operators, in order to help itself penetrate into the markets, overseas.

Sanford C. Bernstein & Co. Analyst, Colin McGranahan said that the acquisition is a testimony to the growth that the firm has been getting and is emerging as a leader in its own fraternity.

But, analysts think that shareholders of the firm might be a bit apprehensive about the deal.

Andy Bond, ex- Chief of Asda and at present an Executive Vice President said that buying Massmart is going to be a convincing growth opportunity and create a platform for further development in the African continent.