JOHANNESBURG - South Africa approved Wal-Mart's $2.4 billion bid for control of retailer Massmart with minimal conditions on Tuesday, giving the world's top retailer a big boost in its plan to expand in fast-growing Africa.
South Africa's Competition Tribunal told Wal-Mart not to cut jobs for two years, honor existing labor agreements and work to develop local suppliers, concessions the US firm had earlier proposed itself.
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console.log("catid body is "+catID);if(catID==120){document.getElementsByClassName("divConnatix")[0].style.display ="none";var script = document.createElement('script'); script.src = 'https://player.anyclip.com/anyclip-widget/lre-widget/prod/v1/src/lre.js'; script.setAttribute('pubname','jpostcom'); script.setAttribute('widgetname','0011r00001lcD1i_12258'); document.getElementsByClassName('divAnyClip')[0].appendChild(script);}else if(catID!=69 && catID!=2){ document.getElementsByClassName("divConnatix")[0].style.display ="none"; var script = document.createElement('script'); script.src = 'https://static.vidazoo.com/basev/vwpt.js'; script.setAttribute('data-widget-id','60fd6becf6393400049e6535'); document.getElementsByClassName('divVidazoo')[0].appendChild(script); }The deal gives Wal-Mart a 51 percent stake of Massmart, a discount retailer that sells everything from liquor to televisions and has a presence in at least a dozen African countries.
