Wal-Mart takes Namibia Competition Commission to court - FreshFruitPortal.com

Wal-Mart takes Namibia Competition Commission to court

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Wal-Mart takes Namibia Competition Commission to court

U.S. retail chain Wal-Mart has suffered another setback in its takeover of South African company Massmart, which has operations and subsidiaries in 14 African countries.

Wal-Mart has filed an application to the Namibian High Court, challenging the Namibia Competition Commission's (NCC) demands that certain conditions be met before it approves the Massmart merger, reported The Namibian.

The NCC demanded a certain level of local participation to approve the takeover, as Massmart owns subsidiaries in Namibia including Game, Makro and Builders Warehouse, the story reported.

The ruling is expected to be heard on Apr. 6.

Africanbusinessreview.co.za reported Wal-Mart is also considering legal action with South African competition authorities, after delaying hearings by around two months.

Related story: South Africa's antitrust body approves Wal-Mart takeover

Source: www.freshfruitportal.com

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