Cosatu threatens strike over Massmart deal

2011-05-13 14:21

Labour federation Cosatu today submitted notice of its intention to strike should the Walmart-Massmart merger be approved.

“The filing of this Section 77 notice represent our intention to embark on a protest action should the [Competition] Tribunal approve the merger or approve the merger without imposing conditions to protect the concerns raised by unions participating in the hearing before the Tribunal,” reads the notice filed at the National Economic Development and Labour Council (Nedlac).

Walmart Stores is attempting to acquire a 51% stake in SA retail giant Massmart – which includes Game, Dion Wired, Makro, Builders Warehouse and Masscash.

Massmart has voted in favour of the merger, despite calls for it to reject it. Cosatu and its affiliates then asked the Competition Commission to recommend that the Competition Tribunal stop the merger based on the grounds of fair competition and public interest.

The commission however recommended the tribunal approve the merger without conditions as it “did not raise competition concerns”.

“The Commission was satisfied that the public interest concerns raised by various stakeholders would be resolved through a facilitation process undertaken by the department of economic development with the merging parties and the unions. No agreement has since been reached,” the notice reads.

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