June 2 (Bloomberg) -- The Namibian Competition Commission said it appealed against a ruling that declared conditions it imposed on the takeover by Wal-Mart Stores Inc. of Massmart Holdings Ltd. as invalid.
The appeal was lodged yesterday in the Supreme Court, the Windhoek-based regulator said in a faxed statement today. Wal- Mart this week won the approval of South Africa’s Competition Tribunal to buy a controlling stake in Johannesburg-based Massmart with conditions. It needs the same approval in Namibia for the transaction to come into effect in the southern African country.
Namibia’s Competition Commission recommended the transaction be approved in that country on condition it guarantee jobs won’t be cut and that it offers shares to black citizens.
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