Namibian court okays Wal-Mart's deal
Business Report - Jun 13th 2011, 14:26
Wal-Mart has been given the go-ahead by a Namibian court to implement its $2.4 billion takeover of South African retailer Massmart pending an appeal to have conditions attached to the deal, a newspaper said on Friday.
An appeal by the Namibian competition regulator follows a High Court judgment in April that quashed the regulator's ruling that placed conditions on the deal.
The Namibian newspaper quoted Judge Smuts as saying the April 28 decision that gave Wal-Mart's bid an unconditional nod was valid and could be implemented even as parties wait for the appeal process.
South Africa approved Wal-Mart's $2.4 billion bid for control of Massmart with minimal conditions on Tuesday.
The deal needed competition approval in six countries - South Africa, Tanzania, Malawi, Swaziland, Zambia as well as Namibia.
CMA blocks Sainsbury’s-Asda merger
25/04/2019 - 10:41
The Competition and Markets Authority (CMA) has confirmed that it is blocking the proposed merger of Sainsbury’s and Asda. The two chains, along with Walmart, have since stated that they are abandoning the deal.
9 safety tips to help curb cash crimes in SA's stores
22/04/2019 - 10:03
Retailers must accept that cash crime is prevalent in SA and not going away any time soon, says Richard Phillips, joint CEO of retail cash management company Cash Connect.
Easter is also a feast for criminals, retailers and consumers warned
18/04/2019 - 09:01
There is a tendency among criminals to use the Easter long weekend - and its spike in shopping - to their advantage, says Richard Phillips, joint CEO of retail cash management company Cash Connect.
Retailers feel the heat as e-commerce siphons off sales
11/04/2019 - 09:47
The start of 2019 has been bleak for most SA retailers, raising questions about the future of the sector.
Physical stores are not dead, but boring retail is
05/04/2019 - 16:18
Retail is not dead, and physical stores are not dead, but "boring retail" is dead, according to Linah Maigurira, Google's head of retail business in South Africa.