S.Africa approves Wal-Mart with token conditions
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.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.ByREUTERS06/08/2025 07:57 AMByREUTERS06/08/2025 05:36 AMByMAARIV06/07/2025 02:33 PMByWALLA!06/07/2025 11:18 AMByREUTERS06/07/2025 03:25 AM
