SOUTH AFRICA: Wal-Mart/Massmart deadline extended
The South African Competition Tribunal has extended the deadline for the Competition Commission to submit its recommendations around the proposed merger between Wal-Mart and Massmart.
The Tribunal has extended the review by 15 days in response to an application to the Competition Commission to submit evidence from labour unions opposed to the deal.
The South Africa Commercial, Catering and Allied Workers Union (SACCAWU) said it hopes the Commission will not base its recommendations on the "narrow interests of Massmart shareholders" but consider the "possible impact of the proposed merger on efforts aimed at "achieving the developmental objectives of the country".
It is also asking the Commission to consider the possible impact on concentration and domination of the retail and wholesale sector; the impact on the local market, including small traders' the impact on the local supply basis; "Wal-Mart's track record in other countries where it's entry has led to massive job losses"; and "Wal-Mart's terrible industrial relations history".
The world's largest retailer has previously emphasised its commitment to "honour pre-existing union relationships" and that it is "committed to working constructively with the local unions in South Africa".
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