Walmart Going to Africa



unrelated news clipping
(Johannesburg, South Africa) Trade unions are not pleased that non-union Walmart is entering Africa.

A South African chain's shareholders have overwhelmingly accepted Wal-Mart's offer to buy 51 percent of their company, the chief executive said Monday, paving the way for the giant U.S.-based retailer to enter Africa.

Massmart said the proposal was approved by 97 percent of shareholders who voted Monday - 75 percent had been needed. Wal-Mart offered 148 rand (about $20) per share in a 17 billion rand (about $2 billion) deal.

The deal will have to be approved by South Africa's anti-monopoly regulators.

Massmart operates about 290 stores in 14 African countries.