After months of deliberation, Judge Dave Dennis of the Competition Appeals Court finally announced the verdict on the merger between Wal-Mart and Massmart on Friday.
The week had started well for the US retail giant when, over the border, authorities gave the nod for the
merger to go ahead in Nambia.
On Thursday, it was announced that the group had
signed a three-year supplier development programme to the tune of R15 million to support and develop small farmers in South Africa.
And in a final coup, Judge Dennis gave the
seal of approval to the merger - but not without a few more conditions.
Not surprisingly, the
Saccawu isn't happy, but so far
resistance has proven futile. According to Gryphon Asset Management CEO, Abri du Plessis, government members are well aware of the importance of investor perception and another appeal would not be looked upon positively.
Have a good week!
Shan Radcliffe, Retail editor
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