Wal-Mart's $2B South Africa Deal Gets Boost

Law360, New York (February 14, 2011, 2:04 PM EST) -- South Africa's competition regulator said Monday it had recommended approval of Wal-Mart Stores Inc.'s bid to buy a 51 percent stake in Massmart Holdings Ltd. for 17 billion rand ($2.3 billion) over the objections of several unions.

The Competition Commission of South Africa said it found that the transaction was not anti-competitive, and that the retailers had addressed the concerns of several labor unions over Wal-Mart's labor practices and where it buys most of its products.

Wal-Mart and Massmart assured the commission that they would abide...
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