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Walmart’s Acquisition Of South Africa’s Massmart Approved
Posted on | May 31, 2011 | Comments Off
Walmart has been granted approval to continue with its 51% acquisition of Massmart, the large retailer in South Africa. The competition panel which reviewed the transaction has put minor stipulations on the agreement saying that Walmart must not cut any jobs for two years.
As we’ve been saying, this is a long-term play for Walmart, so not cutting any jobs for two years is not a big deal. This is definitely a victory for Walmart as it penetrates a new market. Shareholders should be pleased with the result.