Wal-Mart faces trial by fire in Massmart takeover

23 Mar '11

1 min read

Setting forth apprehensions regarding the proposed loss of employment and competition if the deal is finalized, four trade unions have sought of the Competition Tribunal to prevent Wal-Mart Stores from acquiring a 51 percent stake in Massmart.

The Tribunal would soon take up for consideration the views and proposals extended by the Competition Commission, four government departments, Small Medium and Micro Enterprises Forum, the reunion parties and from Shoprite.

The Tribunal after considering the views and submissions would decide if it should consent to the deal unconditionally, grant conditional approval or completely decline it.

Four trade unions namely, the Food and Allied Workers' Union, the SA Commercial, the Southern African Clothing and Textile Workers' Union (Sactwu), the Catering and Allied Workers' Union and the National Union of Metalworkers of SA have all together urged the Tribunal to disallow merger or grant approval subject to conditions aimed at safeguarding the domestic industries and jobs in the sector.

The four government departments too have raised apprehensions over the possible impact that the proposed deal could have on the workers, employment and on small and medium scale enterprises.

Fibre2fashion News Desk - India

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