Walmart has been approved to buy South Africa's Massmart despite fierce union opposition, clearing the way for it to expand into a fourth continent
This article titled “Walmart gets first foothold in Africa” was written by David Smith in Johannesburg, for The Guardian on Tuesday 31st May 2011 18.43 UTC
Walmart, the world’s biggest retailer, has gained its first foothold in Africa despite fierce opposition from trade unions.
South Africa’s competition tribunal approved the multinational corporation’s .4bn (£1.5bn) bid for Massmart, which has 288 stores in South Africa and a dozen other African countries, without conditions that could have jeopardised the deal. The move clears the way for Walmart in a fourth continent, having already aggressively swept through America, Asia and Europe.