SA to decide on Wal-Mart deal

Massmart today, a spokeswoman said.
Nandi Mokoena, a spokeswoman for the Pretoria-based Competition Tribunal, said in an e-mailed statement the decision would be released together with a statement from the Tribunal.
The reasons for the decision will be released within 20 working days after, she said.
Wal-Mart’s bid to take a 51 percent stake in the South African discount retailer is seen as a test case for major foreign investment in South Africa.
Three government departments and the country’s powerful unions have lined up against the deal, asking regulators to impose targets on local procurement and a freeze on job cuts.
The government and unions are concerned about Wal-Mart’s global supply network which, they say, could lead to a flood of cheap imports, sparking job losses and squeeze local suppliers.
Wal-Mart, which already volunteered to preserve jobs for two years and spend 100 million rand to develop local suppliers, threatened to walk away or challenge the decision if local supplier targets are attached as conditions. – Reuters.