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| Name | Symbol | Market | Type |
|---|---|---|---|
| Massmart Holdings Ltd (PK) | USOTC:MMRTY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 6.80 | 6.54 | 8.27 | 0.00 | 01:00:00 |
From Jun 2019 to Jun 2024
South Africa's Food and Allied Workers Union Thursday said it is considering appealing the Competition Tribunal's approval of Wal-Mart Stores Inc.'s (WMT) proposed $2.4 billion merger with South African retailer Massmart Holdings Ltd. (MSM.JO).
"We will join all the forces in the country, under Anti-Wal-Mart Coalition, to oppose this transaction by campaign or by appeal to the Competition Appeal Court and beyond," said the union's general secretary, Katishi Masemola.
The tribunal approved the merger Tuesday on the condition that Wal-Mart doesn't make any redundancies for two years, honors existing bargaining agreements for three, and sets up a 100 million rand ($14.7 million) fund to train local suppliers to be more competitive and efficient.
Unions are worried that Wal-Mart will increase imports, which will squeeze out local suppliers and lead to job losses.
"The negative impact of this transaction will still remain, even if it will be felt only after two years, when most conditions lapses," Masemola said.
-By Devon Maylie, Dow Jones Newswires; +27 (11) 783 7848; devon.maylie@dowjones.com
1 Year Massmart (PK) Chart |
1 Month Massmart (PK) Chart |
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