Arab Today, arab today walmart gets blessing over merger deal in south africa
Last Updated : GMT 05:49:29
Arab Today, arab today
Arab Today, arab today

Walmart gets blessing over merger deal in South Africa

Arab Today, arab today

Arab Today, arab today Walmart gets blessing over merger deal in South Africa

Cape Town - Xinhua

Deputy President Kgalema Motlanthe on Wednesday welcomed Walmart to invest in South Africa, as the U.S. retail giant is awaiting ruling from the Competition Appeals Court (CAC) over its merger with local retailer Massmart Holdings. The government is pleased that Walmart has chosen to invest in South Africa, Motlanthe told Parliament. \"The point is that they have gone through everything. They have done a very thorough assessment, they have been through the Competition Tribunal and they were given the thumbs up. \"What they (Walmart) are saying is that all investors must come to SA. We agree (with Walmart) and are very happy that this is what they have done.\" Motlanthe was speaking amid reports that South Africa had seen a decline in foreign direct investment which had fallen 70 percent from 2009 to 2010. Motlanthe praised Walmart for its investment and for the fact that it had done a country assessment. \"This means that no other American company needs to do such an assessment,\" he said. The deputy president made no mention that three cabinet ministers had instituted a court action to have stronger conditions set for the 16.5-billion-rand (about 2.1-billion-U.S.- dollar) merger between Walmart and Massmart. The joint appeal was filed by Minister of Economic Development Ebrahim Patel, Minister of Trade and Industry Rob Davies and Minister of Agriculture, Fisheries and Forestry Tina Joemat- Pettersson in support of a trade union\'s demands to set tougher conditions for the merger. In their court application, the three ministers have claimed that Walmart\'s entry would lead to a loss of manufacturing capability and threaten food security. The CAC heard the case in October and is still to make a ruling on the appeal of the Competition Tribunal\'s conditional approval of Walmart\'s acquisition of 51 percent of Massmart. The Competition Tribunal ruled on May 31 that Walmart could proceed with its plan to merge Massmart on conditions that no jobs were cut for two years and the companies set up a 100-million-rand (12.6-million-dollar) fund to assist local suppliers. But the South African government said the conditions were inadequate and would result in a massive influx of imports that would undermine manufacturing output. Walmart has threatened to take legal action at the World Trade Organization (WTO) over its procurement of Massmart. Walmart could approach the U. S. government to seek WTO relief from any procurement conditions imposed on Walmart-controlled Massmart, according to Walmart\'s lawyers.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today walmart gets blessing over merger deal in south africa Arab Today, arab today walmart gets blessing over merger deal in south africa

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today walmart gets blessing over merger deal in south africa Arab Today, arab today walmart gets blessing over merger deal in south africa

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today US travel restrictions are still 'Muslim ban'

GMT 00:54 2017 Tuesday ,26 September

US travel restrictions are still 'Muslim ban'
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israel builds settlements 'at high rate'

GMT 01:04 2017 Tuesday ,26 September

Israel builds settlements 'at high rate'
Arab Today, arab today North Korea 'more opaque'

GMT 10:50 2017 Sunday ,24 September

North Korea 'more opaque'
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Personality study finds fish have hidden depths

GMT 00:43 2017 Tuesday ,26 September

Personality study finds fish have hidden depths
Arab Today, arab today 'Lady Beast' fights for girl gamers

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers
Arab Today, arab today Botanical gardens a lifeboat

GMT 02:50 2017 Tuesday ,26 September

Botanical gardens a lifeboat
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Chevrolet's first 9-speed auto debuts

GMT 18:58 2017 Monday ,25 September

Chevrolet's first 9-speed auto debuts
Arab Today, arab today Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Conditions growing dire    

GMT 09:22 2017 Monday ,25 September

Conditions growing dire    

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 12:02 2017 Sunday ,24 September

Harry visits mental health hospital

GMT 12:09 2017 Sunday ,24 September

Taxi! Transport gets an overhaul

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday