South Africa Defends Appeal Of $2.5B Wal-Mart Tie-Up

Law360, New York (August 2, 2011, 5:09 PM EDT) -- South Africa's government on Tuesday defended its decision to appeal antitrust clearance for Wal-Mart Stores Inc.’s planned $2.5 billion acquisition of Massmart Holdings Ltd. without stringent conditions forcing the merged company to use local suppliers.

The government asked the Competition Appeals Court in late July to evaluate a May decision that allowed the deal to go through without a provision forcing Wal-Mart to stock a certain amount of products from local suppliers in its South African stores that had left the discount giant threatening to walk...
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