Bloomberg News

Namibia Competition Commission to Appeal Wal-Mart Court Ruling

June 02, 2011

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.

To contact the reporter on this story: Chamwe Kaira in Windhoek at ckaira@bloomberg.net

To contact the editor responsible for this story: Vernon Wessels at vwessels@bloomberg.net


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