South Africa: SA approves Wal-Mart deal

South African competition authorities approved Wal-Mart's $2.4 billion bid for Massmart on Tuesday (31 May), saying the retailer must not fire workers for two years. The conditions imposed on the deal - including a programme for developing local suppliers - will likely be seen as a win for the world's largest retailer, which said it would walk away from the deal if targets were put on local procurement.