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Johannesburg - Walmart has been given the go-ahead by a Namibian court to implement its $16.5bn takeover of South African retailer Massmart Holdings [JSE:MSM] pending an appeal to have conditions attached to the deal, a newspaper said on Friday.
An appeal by the Namibian competition regulator follows a high court judgment in April that quashed the regulator's ruling which placed conditions on the deal.
The Namibian newspaper quoted Judge Smuts as saying the April 28 decision that gave Walmart's bid an unconditional nod was valid and could be implemented even as parties wait for the appeal process.
South Africa approved Walmart's bid for control of Massmart with minimal conditions last week.
The deal needed competition approval in six countries - South Africa, Tanzania, Malawi, Swaziland, Zambia and Namibia.
An appeal by the Namibian competition regulator follows a high court judgment in April that quashed the regulator's ruling which placed conditions on the deal.
The Namibian newspaper quoted Judge Smuts as saying the April 28 decision that gave Walmart's bid an unconditional nod was valid and could be implemented even as parties wait for the appeal process.
South Africa approved Walmart's bid for control of Massmart with minimal conditions last week.
The deal needed competition approval in six countries - South Africa, Tanzania, Malawi, Swaziland, Zambia and Namibia.
