On february nth the world's most successful retailer came a step nearer to establishing a presence in Africa. South Africa's Competition Commission approved Walmart's proposed acquisition of a 51% stake in Massmart, a South African firm that owns 265 wholesale and retail stores in South Africa and 25 more in 13 other African countries. Massmart's shareholders love the 16.5 billion rand ($2.3 billion) deal: 98% of them voted to approve it last month. But South African unions view it like a charging rhino in a narrow alley.
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