Wednesday, June 01, 2011

Cosatu opposes Massmart/Walmart merger

Lusanda Bill
1 June 2011


Cosatu says it still strongly opposes the merger between retail group Massmart and its American counterpart Walmart.

The 16-point-five-billion-Rands deal was approved yesterday by the Competition Tribunal.

The deal will see Walmart take over a 51-percent share of Massmart.

Cosatu spokesperson Patrick Craven says the approval comes as a blow to labour organisations and the country as a whole.

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