Government is trying to toughen conditions rather than overturn the Competition Tribunal’s decision on the Walmart-Massmart deal, media reports say.
Saccawu said on Wednesday while they support foreign investment in South Africa, the Walmart-Massmart merge could cost the country a number of jobs.
Three days of public hearings into the R16.5-billion takeover of Massmart by United States giant Walmart got underway at Parliament on Tuesday.
Massmart is looking to buy a local fresh produce supplier just weeks after its own acquisition by US retail giant Wal-Mart.
Cosatu has expressed "shock" at Pick n Pay’s announcement that it is contemplating retrenching about 3 137 workers.
The Competition Tribunal has criticised the government’s call for procurement quotas to apply to the Walmart-Massmart merger.
The Competition Tribunal approved the Walmart-Massmart deal weeks ago, but have only now explained how and why they gave the green light.
Saccawu has filed an appeal against the Competition Tribunal’s decision to allow Walmart to acquire a controlling stake in Massmart.
WalMart announced on Monday that the company had completed its investment for a 51% stake in Massmart Holdings for R148 per Massmart ordinary share.
South Africa’s intervention in Walmart’s bid for control of Massmart was "aggressive" and could have been handled better, Massmart has said.
Business confidence dipped in May to its lowest levels this year, but remains higher in year-on-year figures, says Sacci.
Zimbabwe’s second-largest supermarket chain by assets, OK Zimbabwe, has recorded a 153% increase in full-year earnings in the year through March 2011.
Walmart Stores hopes that food and conversation can win over shoppers and companies in sub-Saharan Africa.
The victorious Walmart bid to buy 51% of local retailer Massmart could boost South Africa’s profile as a trading launch pad into the African continent
As Walmart expands its international business, the company wants to bring ideas from South Africa’s Massmart to other markets.
Saccawu might appeal against the Competition Tribunal’s approval of Walmart’s 51% acquisition of Massmart, it has said.
Massmart’s chief executive said that the group’s management team welcomed the prospect of becoming part of the Walmart family.
The Competition Tribunal has approved the merger between Walmart and South African retailer Massmart Holdings subject to conditions.
South Africa’s competition regulator will announce its decision on WalMart’s $2.4-billion offer for local retailer Massmart at 2pm on Tuesday.
The government’s local procurement conditions could be in defiance of its WTO commitments.
The attitude of local owner-managed manufacturers towards the Walmart-Massmart merger seems to be enthusiastic support.
Imposing conditions on Walmart’s R16,5-billion acquisition of Massmart will violate trade agreements, the Competition Tribunal heard on Monday.
Merging parties Massmart and Walmart said on Monday at the Competition Tribunal that no conditions were necessary regarding their R16,5-billion deal.
The state’s opposition to the Walmart/Massmart merger is sending the wrong message to corporate South Africa, argue stakeholders.
A US labour expert testified at the Competition Tribunal hearing in Pretoria on Thursday Walmart’s bid to acquire a controlling stake in Massmart.
Massmart’s CEO admits he would earn a huge payout from a merger with Walmart — but denies staff were retrenched to make the company more attractive.
The Competition Tribunal’s hearings into United States retailer Walmart’s planned acquisition of Massmart started in Pretoria on Monday.
Next week the Competition Tribunal will hear the proposed large merger between retail giants WalMart Stores and Massmart Holdings.
Walmart Stores said on Friday it is committed to working with South African suppliers amid worries it would expose the economy to cheap imports.
South Africa is not against foreign investment, media reported, amid worries that takeover hearings involving WalMart could deter investors.
The Massmart/Walmart merger is facing some stiff opposition from the South African government and unions, writes <b>Lloyd Gedye</b>.
Walmart and its target, Massmart, are considering options to ensure a fair hearing after competition authorities delayed a hearing on Tuesday.