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Unions back down on Walmart protest

Johannesburg - Massmart Holdings [JSE:MSM] shareholders were voting on Monday morning on whether to accept global retailer Walmart's offer to acquire 51% the local business, while a planned protest was called off, SA Commercial, Catering and Allied Workers Union (Saccawu) spokesperson Mike Abrahams said.

Members of the Anti-Walmart Coalition had planned to picket outside the Massmart officers in Sunninghill, Johannesburg while the shareholders' meeting took place. They called off the demonstration at the last minute.

"The demonstration didn't take place as the company threatened disciplinary action as a dispute had not been declared," Abrahams told Sapa.

However, members of the Anti-Walmart Coalition were attending the meeting.

"They are inside to present our case," Abrahams said.

Shareholders were voting on whether to accept Walmart's bid to buy 51% of Massmart for R148 a share in a deal worth around R16bn

The Anti-Walmart Coalition comprises several trade unions, including Saccawu, labour federation Cosatu and civil society organisations.

It is opposing the Walmart/Massmart deal because of the negative consequences it sees for Massmart workers, the wholesale and retail sector and its supply chains.

"We hope to show how this deal is not in the interests of the country and the national imperatives of transformation, economic growth, job creation and poverty alleviation," the coalition said in a statement on Sunday.
 
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