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Johannesburg - A global coalition of labour on Monday said that it attended the Massmart Holdings [JSE:MSM] shareholders meeting and demonstrated outside the meeting venue.
The coalition comprised Cosatu, the South African Commercial, Catering and Allied Workers Union (Saccawu), UNI Global Union and the North American United Food and Commercial Workers International Union (UFCW).
Massmart's shareholders were expected to vote in support of Walmart's offer to acquire 51% of Massmart's shares at the meeting.
Speaking at the event, Tyotyo James, first deputy-president of Cosatu, said despite the advent of democracy in 1994, South Africa remained one of the most inequitable societies in the world.
"The acquisition will cut out even more local ownership of one of the major retail players in the country. Although Walmart has tried to convince the public otherwise, history has shown us that the entry of the world's largest company would not be good for the consumers, suppliers, or people of South Africa," he said.
Mduduzi Mbongwe, geputy general secretary of Saccawu - which represents Massmart's workers - said Walmart had claimed that it was union-friendly.
"But we know from our friends and colleagues from around the world, and especially in the US, of Walmart's relentless attacks on workers and unions," he said.
He said the union's short experience in trying to engage with Walmart had been discouraging and if the company did not take the concerns of workers and the union seriously, "the outcome would be an industrial strife, which would not be good for workers or investors."
Alke Boessiger, head of the commerce sector for the UNI Global Union, said that the right time for the country and unions to set strong standards that protect workers, local suppliers, and community interests was when the company is making an initial bid.
Michael Bride, deputy organising director for global strategies of the 1.3 million member strong UFCW International Union of USA and Canada, said Walmart's anti-worker and anti-union bias was well known in North America.
Saccawu said that it would challenge the proposed takeover via South African competition law and in the political realm.
Walmart in November made a R16.5bn cash offer to acquire 51% of Massmart at R148 per Massmart share.
"The offer represents a 19.2% premium to the 30-day weighted average price on September 23, the last trading day prior to the indicative offer announced on September 27, 2010, and has been unanimously recommended by the Massmart board of directors," said Walmart.
Massmart will continue to trade on the JSE if the deal is completed.
The coalition comprised Cosatu, the South African Commercial, Catering and Allied Workers Union (Saccawu), UNI Global Union and the North American United Food and Commercial Workers International Union (UFCW).
Massmart's shareholders were expected to vote in support of Walmart's offer to acquire 51% of Massmart's shares at the meeting.
Speaking at the event, Tyotyo James, first deputy-president of Cosatu, said despite the advent of democracy in 1994, South Africa remained one of the most inequitable societies in the world.
"The acquisition will cut out even more local ownership of one of the major retail players in the country. Although Walmart has tried to convince the public otherwise, history has shown us that the entry of the world's largest company would not be good for the consumers, suppliers, or people of South Africa," he said.
Mduduzi Mbongwe, geputy general secretary of Saccawu - which represents Massmart's workers - said Walmart had claimed that it was union-friendly.
"But we know from our friends and colleagues from around the world, and especially in the US, of Walmart's relentless attacks on workers and unions," he said.
He said the union's short experience in trying to engage with Walmart had been discouraging and if the company did not take the concerns of workers and the union seriously, "the outcome would be an industrial strife, which would not be good for workers or investors."
Alke Boessiger, head of the commerce sector for the UNI Global Union, said that the right time for the country and unions to set strong standards that protect workers, local suppliers, and community interests was when the company is making an initial bid.
Michael Bride, deputy organising director for global strategies of the 1.3 million member strong UFCW International Union of USA and Canada, said Walmart's anti-worker and anti-union bias was well known in North America.
Saccawu said that it would challenge the proposed takeover via South African competition law and in the political realm.
Walmart in November made a R16.5bn cash offer to acquire 51% of Massmart at R148 per Massmart share.
"The offer represents a 19.2% premium to the 30-day weighted average price on September 23, the last trading day prior to the indicative offer announced on September 27, 2010, and has been unanimously recommended by the Massmart board of directors," said Walmart.
Massmart will continue to trade on the JSE if the deal is completed.
