Union Opposes Wal-Mart's Bid To Buy S. African Chain

Law360, New York (September 29, 2010, 4:52 PM EDT) -- South Africa's largest trade union has reportedly come out against Wal-Mart Stores Inc.'s 29.8 billion rand ($4.2 billion) bid to purchase retail chain Massmart Holdings Ltd.

The Wall Street Journal reported Wednesday that the Western Cape provincial arm of the Congress of South African Trade Unions said it was concerned about Wal-Mart's bid to take over what the union called one of the country's “key strategic national companies.”

Wal-Mart made a preliminary offer to buy Massmart in a move the U.S. discount giant said could enable...
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