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      <title>South Africa seeks to delay Wal-Mart anti-trust hearing</title>
      <link>https://www.brecorder.com/news/8128/south-africa-seeks-to-delay-wal-mart-anti-trust-hearing</link>
      <description>&lt;p class="MsoPlainText"&gt;&lt;img style="margin-right: 10px; float: left;" alt=" " src="https://i.brecorder.com/images/stories/pics2011/mar/walmart_400.jpg" width="400" height="266" /&gt;JOHANNESBURG: South Africa's government on Tuesday asked the Competition Tribunal to postpone a planned hearing into Wal-Mart's proposed takeover of local wholesaler Massmart, a move fiercely opposed by unions.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;"The members are meeting to look at the government's request. A decision will be made today," said Lerato Mataung, the tribunal's registrar.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;Massmart's shareholders in January approved Wal-Mart's $2.5-billion (1.87-billion-euro) offer for a 51 percent stake in the company, amid concerns of worker rights by labour unions.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;That was a scaled-down proposal from the world's largest retailer, which had initially offered $4.2 billion for a total buyout.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;The Competition Tribunal, South Africa's top anti-trust authority, had planned four days of hearings starting Tuesday.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;Labour unions have voiced concern over the bid, arguing that the giant retailer, which is known for cheap prices, would undermine local firms.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;"We will tell the Competition Tribunal that we believe it is not in the best interest of South Africa for Wal-Mart to be allowed into our country," said Bones Skulu, general secretary of the South Africa Commercial, Catering and Allied Workers Union.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;The union wants the tribunal to ensure that Wal-Mart upholds protections for local workers and suppliers.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;&lt;Center /&gt;&lt;b&gt;&lt;i&gt;Copyright AFP (Agence France-Presse), 2011&lt;/b&gt;&lt;/i&gt;&lt;/center&gt;&lt;/p&gt;
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      <content:encoded xmlns="http://purl.org/rss/1.0/modules/content/"><![CDATA[<p class="MsoPlainText"><img style="margin-right: 10px; float: left;" alt=" " src="https://i.brecorder.com/images/stories/pics2011/mar/walmart_400.jpg" width="400" height="266" />JOHANNESBURG: South Africa's government on Tuesday asked the Competition Tribunal to postpone a planned hearing into Wal-Mart's proposed takeover of local wholesaler Massmart, a move fiercely opposed by unions.</p>
<p class="MsoPlainText">"The members are meeting to look at the government's request. A decision will be made today," said Lerato Mataung, the tribunal's registrar.</p>
<p class="MsoPlainText">Massmart's shareholders in January approved Wal-Mart's $2.5-billion (1.87-billion-euro) offer for a 51 percent stake in the company, amid concerns of worker rights by labour unions.</p>
<p class="MsoPlainText">That was a scaled-down proposal from the world's largest retailer, which had initially offered $4.2 billion for a total buyout.</p>
<p class="MsoPlainText">The Competition Tribunal, South Africa's top anti-trust authority, had planned four days of hearings starting Tuesday.</p>
<p class="MsoPlainText">Labour unions have voiced concern over the bid, arguing that the giant retailer, which is known for cheap prices, would undermine local firms.</p>
<p class="MsoPlainText">"We will tell the Competition Tribunal that we believe it is not in the best interest of South Africa for Wal-Mart to be allowed into our country," said Bones Skulu, general secretary of the South Africa Commercial, Catering and Allied Workers Union.</p>
<p class="MsoPlainText">The union wants the tribunal to ensure that Wal-Mart upholds protections for local workers and suppliers.</p>
<p class="MsoPlainText"><Center /><b><i>Copyright AFP (Agence France-Presse), 2011</b></i></center></p>
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      <guid>https://www.brecorder.com/news/8128</guid>
      <pubDate>Tue, 22 Mar 2011 10:53:12 +0500</pubDate>
      <author>none@none.com (Babar Malik)</author>
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