"Competition approvals have now been received in all required jurisdictions, with the exception of SA.
"The South African Competition Tribunal hearings are set to resume on May 9", the company said on Friday, 29 April 2011.
US-based Wal-Mart Stores has planned a merger with SA's Massmart by acquiring 51% of the shareholding in the SA retailer company, in a deal worth about R17 billion.
Massmart's Namibian subsidiaries include Game, Makro, Windhoek Cash & Carry and Builders Warehouse.
The merger transaction includes 14 countries, and has been approved by competition regulators in Tanzania, Malawi, Zambia and Swaziland.
The Namibian Competition Commission decided on 9 February to approve the merger with a set of conditions attached, one of which was that there should be no employment losses as a result of the merger.
However, Judge Dave Smuts said that the reason given for this was very poorly formulated and that there was no rational link between this condition and the reason that was given.
For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.
We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.
Go to: http://www.inet.co.za
