Commission applies to extend probe

THE Competition Commission has applied to the Competition Tribunal for a 15-day extension to its investigation period in relation to the proposed Massmart-Wal-Mart transaction.

This follows a request by the SA Commercial, Catering and Allied Workers Union (Saccawu) for an extension to enable the union to present additional evidence.

"Massmart and Wal-Mart on Friday participated in a hearing with the competition authorities, to make representations opposing the application for an extension and this included sharing the view that the Competition Tribunal's public hearings would provide further opportunity for Saccawu to present additional evidence," Massmart said on Friday.

Earlier this week, Massmart shareholders voted in favour of Wal-Mart's offer to acquire 51 percent of Massmart at a cash price of R148 a share.

Meanwhile, Saccawu said it welcomed the Competition Tribunal's order.

"This order now gives the Competition Commission ample time to seriously consider the nature of issues that have been raised by the union and other interested parties, including issues to be raised by Fawu, Sactwu and Cosatu and other member organisations of the Anti-Wal-Mart Coalition," it said.

Saccawu represents 41 percent of Massmart employees.