Saccawu to appeal Massmart-Walmart decision

The South African Commercial Catering and Allied Workers’ Union (Saccawu) has filed an appeal against the Competition Tribunal’s decision to allow Walmart to acquire a controlling stake in Massmart.

“This is not an unexpected development and the companies remain firm in their belief that the transaction rests on solid legal ground,” Massmart and Walmart said in a joint statement on Wednesday.

The union filed the appeal with the Competition Appeals Court on Monday.

Saccawu spokesperson Mike Abrahams was not immediately available to comment.

The Competition Tribunal was due to give reasons on Wednesday for its decision to allow US giant retailer Walmart to acquire 51% of local retailer Massmart in a R16.5-billion deal.

Massmart and Walmart said the notice of appeal would have no impact on the implementation of the transaction.

“Having finalised the transaction on June 20 2011, Massmart and Walmart will continue to focus on serving customers and communities, working closely with local suppliers, and creating jobs in South Africa,” they said.

In May, the Competition Tribunal approved, with conditions, the deal. This was after fierce opposition from unions and government amid fears the deal would lead to job losses, deteriorating conditions of employment and hurt local procurement.

The merger was conditional on the setting up of a R100-million supplier development fund, no merger-related retrenchments for two years, and recognition of Saccawu for three years post the merger.

The Massmart group includes Game, Dion Wired, Makro, Builders Warehouse and Masscash. — Sapa

Advertisting

EFF ‘circus’ becomes contagion as MPs heckle Malema

ANC MPs test the EFF’s disruptive tactics on the leader of the Red Berets in Sona reply

Ramaphosa ‘neutral’ in Mkhwebane, Parliament impeachment row

However, the president says even if he has a conflict of interest, another Cabinet member could suspend the public protector

Strike-off case pulls in judge

Judge Mushtak Parker is implicated in an application to strike off his former partners. He is also involved in the fight between the Western Cape high court’s judge president and his deputy

One strike and you’re out – registrar tells unions

A municipal workers’ union is the first to be sanctioned for not following the new rule when deciding whether to go on strike
Advertising

Press Releases

Response to the report of the independent assessors

VUT welcomes the publishing of the report of the independent assessors to investigate concerns of poor governance, leadership, management, corruption and fraud at the university.

NWU student receives international award

Carol-Mari Schulz received the Bachelor of Health Sciences in Occupational Hygiene Top Achiever Award.

Academic programme resumes at all campuses

Lectures, practicals, seminars and tutorials will all resume today as per specific academic timetables.

Strategic social investments are a catalyst for social progress

Barloworld Mbewu enables beneficiaries to move away from dependence on grant funding

We all have a part to play to make South Africa work

Powering societal progress demands partnerships between all stakeholders

So you want to be a social entrepreneur?

Do the research first; it will save money and time later

Social entrepreneurship means business

Enterprises with a cause at their core might be exactly what our economy desperately needs

Looking inwards

Businesses are finding tangible ways to give back – but only because consumers demand it