abusesaffiliationarrow-downarrow-leftarrow-rightarrow-upattack-typeburgerchevron-downchevron-leftchevron-rightchevron-upClock iconclosedeletedevelopment-povertydiscriminationdollardownloademailenvironmentexternal-linkfacebookfiltergenderglobegroupshealthC4067174-3DD9-4B9E-AD64-284FDAAE6338@1xinformation-outlineinformationinstagraminvestment-trade-globalisationissueslabourlanguagesShapeCombined Shapeline, chart, up, arrow, graphLinkedInlocationmap-pinminusnewsorganisationotheroverviewpluspreviewArtboard 185profilerefreshIconnewssearchsecurityPathStock downStock steadyStock uptagticktooltiptwitteruniversalityweb
Article

29 Nov 2010

Author:
Robb Stewart, Dow Jones

South African Union Opposes Wal-Mart Buy Of Massmart

A South Africa labor union [South Africa Commercial, Catering and Allied Workers Union] opposed to the takeover by Wal-Mart Stores Inc. (WMT) of local retailer Massmart Holdings Ltd. (MSM.JO)..., which last month launched an "Anti-Walmart Campaign," wouldn't rule out strikes by its roughly 80,000 members to try and halt the deal, union spokesman Mike Abrahams told Dow Jones Newswires...Grant Pattison, chief executive of Massmart, said he expected opposition to the tie-up from labor unions but added his company has good relationships with unions... Andy Bond, regional executive vice president at Wal-Mart,...said [it] would honor all existing contracts with organized labor bodies as well as local labor laws. Saccawu has said it opposes the "Walmartization" of the retail industry and accused Wal-Mart of antiunion practices. It also has said it is concerned the impact Wal-Mart's arrival will have on local suppliers and manufacturers. Wal-Mart's Bond said the company has committed itself to working with local suppliers...