{"id":8744,"date":"2012-03-09T15:01:31","date_gmt":"2012-03-09T13:01:31","guid":{"rendered":"http:\/\/www.myza.co.za\/03\/update-2-wal-mart-wins-final-go-ahead-for-massmart-deal\/"},"modified":"2012-03-09T15:01:31","modified_gmt":"2012-03-09T13:01:31","slug":"update-2-wal-mart-wins-final-go-ahead-for-massmart-deal","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-2-wal-mart-wins-final-go-ahead-for-massmart-deal\/","title":{"rendered":"UPDATE 2-Wal-Mart wins final go-ahead for Massmart deal"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Court throws out government appeal<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Rules that 503 workers must be rehired<\/p>\n<p><span><\/span><\/p>\n<p>* Victory for Wal-Mart, S.Africa image abroad<\/p>\n<p><span><\/span><\/p>\n<p>By Tiisetso Motsoeneng and Wendell Roelf<\/p>\n<p><span><\/span><\/p>\n<p>CAPE TOWN, March 9 (Reuters) &#8211; A South African court<br \/>\non Friday largely dismissed an appeal from government and unions<br \/>\nto roll back approval for Wal-Mart&#8217;s $2.4 billion<br \/>\nacquisition of Massmart, ending months of uncertainty<br \/>\nabout the status of the deal.<\/p>\n<p><span><\/span><\/p>\n<p>The Competition Appeal Court shot down the government&#8217;s<br \/>\nrequest to have the deal re-examined, although it did rule that<br \/>\nabout 500 previously fired workers should be reinstated.<\/p>\n<p><span><\/span><\/p>\n<p>The ruling is likely to be seen as a victory for Wal-Mart<br \/>\nStores Inc in its plan to expand in fast-growing Africa. It is<br \/>\nalso likely to soothe local investors, who had feared a<br \/>\nretroactive ruling against the deal would tarnish South Africa&#8217;s<br \/>\nreputation as being open to foreign capital.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Finally logic prevailed. Questions about how open South<br \/>\nAfrica is to foreign investment will still be there, but this<br \/>\nruling is a big positive for its image as an investment<br \/>\ndestination for foreign companies,&#8221; said Nic Norman-Smith, a<br \/>\nfund manager at Lentus Asset Management in Johannesburg.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;It&#8217;s unfortunate that we had to go through all this, but<br \/>\nthe right decision was made in the end.&#8221;<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Court throws out government appeal * Rules that 503 workers must be rehired * Victory for Wal-Mart, S.Africa image abroad By Tiisetso Motsoeneng and Wendell Roelf CAPE TOWN, March 9 (Reuters) &#8211; A South African court on Friday largely dismissed an appeal from government and unions to roll back approval for Wal-Mart&#8217;s $2.4 billion [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-8744","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8744","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=8744"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8744\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=8744"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=8744"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=8744"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}