Last-minute wrangling at the Competition Tribunal hearing into the Walmart-Massmart merger on Tuesday has led to the postponement of the hearing.
Retail union Saccawu said it will picket the offices of the competition watchdog, demanding it block Walmart’s plan to buy local chain Massmart.
The retailer is famous for reducing inflation by 1% through efficiencies in the markets. Why isn’t government rolling out the red carpet?
South African business tends to be embarrassed about publicly raising constitutional arguments in its defence.
Disagreement over local procurement quotas mooted by the government is at the heart of objections to the Massmart, Walmart merger.
The lack of conditions imposed on its entry into SA is worrying.
No image available
/ 24 February 2011
US retailer Walmart’s acquisition of a controlling share in Massmart has attracted more attention than expected, Massmart’s CEO said on Thursday.
No image available
/ 22 February 2011
The Anti-Wal-Mart Coalition is disappointed by the report of the Competition Commission, the SA Commercial, Catering and Allied Workers’ Union said.
The planned purchase of 51% of Massmart by Walmart has its supporters and detractors. Massmart chief executive explains why he thinks the deal is good
No image available
/ 12 February 2011
Sa’s Competition Commission has recommended that retail group Wal-Mart’s proposed acquisition of 51% of equity in Massmart be approved.
The entry of the US giant into the local market is a double-edged sword.
No image available
/ 21 January 2011
The Competition Tribunal has given unions an additional 15 days to present more evidence against Wal-Mart’s $2,3-billion bid for Massmart,
Massmart’s shareholders have accepted a takeover by US group Wal-Mart, setting up the world’s largest retailer for a potential battle with unions.
Walmart’s entry into Africa through the purchase of a stake in Massmart reflects a change in the attitude of global investors to the continent.
Wal-Mart plans to buy a controlling stake in Massmart for more than $2-billion after scaling back its offer for the company’s entire stock.
No image available
/ 15 November 2010
Minister Ebrahim Patel set up a panel to advise government on the likely implications of Walmart’s bid to buy more than 50% of Massmart.
No image available
/ 4 November 2010
If Wal-Mart succeeded in its bid to buy a share of Massmart, it would mean job losses for the retail and manufacturing sector, union Saccawu said.
No image available
/ 29 September 2010
Massmart executives have contacted labour unions regarding the offer by global retail giant Wal-Mart to purchase the local company for R30-billion.
No image available
/ 27 September 2010
One of the world’s largest retailers Wal-Mart has offered to buy JSE-listed wholesaler Massmart, the South African company said on Monday.
Makro, Game and Dion workers are staging marches in several cities on Friday to protest against working conditions.
No image available
/ 26 February 2009
Mass market retailer Massmart Holdings reported a 13,1% rise in 26-week headline EPS to 433 cents as its cheap stores lured cost-conscious customers.
In an environment dominated by rising food and fuel prices, retailer Massmart on Thursday announced what it termed ”strong” overall results.
Stocks were slightly lower at noon on Tuesday with banks dominating the loser board on inflation worries, but miners capped losses on a weaker rand and firm metal prices, traders said. At 11.56am, the all-share index was down 0,23%, weighed by a 1,70% drop in banks.