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SA appeals Walmart/Massmart merger

Johannesburg - The government is appealing a decision by its own regulators to allow Walmart to buy control of local retailer Massmart Holdings [JSE:MSM], an official in the Competition Appeal Court said on Thursday.

"We received an application from the three government departments yesterday but we haven't set a date to hear the matter," said court registrar Tebogo Mputle, adding that a date for the hearing could be sometime in October.

Three government departments that had opposed the deal - economic development, trade and industry and forestry and fisheries - filed the application.

Walmart finalised its R16.5bn purchase of 51% of discount retailer Massmart on June 20, after winning approval for minimal conditions from the Competition Tribunal.

The government departments and unions had argued that the tribunal should impose targets for using local suppliers on Walmart. Without such targets, they maintained, the deal could lead to lost revenue and jobs for local manufacturers.

South Africa's biggest service industry union has already said it will appeal the takeover.

It was not immediately clear what impact the appeals by the government and union could have on the deal.
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