Bloomberg News

South Africa Economic Ministry Says Respects Wal-Mart Decision

March 09, 2012

South Africa’s Economic Development Ministry respects the Competition Appeal Court’s decision to dismiss an application brought by labour unions, the department and two others to review the approval of Wal-Mart Stores Inc. (WMT)’s purchase of a controlling stake in Massmart Holdings Ltd. (MSM)

The ministry will study the judgment and consult its lawyers before issuing a more detailed statement, Saleem Mowzer, special adviser to Economic Development Minister Ebrahim Patel, said after the ruling was made today.

The ministry is pleased the court “has recognized the public-interest interest issues that were raised,” he said.

To contact the reporter on this story: Mike Cohen in Cape Town at mcohen21@bloomberg.net

To contact the editor responsible for this story: Ana Monteiro at amonteiro4@bloomberg.net


Burger King's Young Buns
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus