Nullify Walmart deal: Numsa

18 August 2011 - 15:37 By Sapa
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Grant Pattison, CEO of Massmart, at the Woodmead Makro. He says the Walmart deal has taught him a lot
Grant Pattison, CEO of Massmart, at the Woodmead Makro. He says the Walmart deal has taught him a lot
Image: Picture: SIMON MATHEBULA

The Walmart deal to take over Massmart must be nullified, the National Union of Metalworkers on SA said.

"We have seen the rapid increase in imperialist involvement in our financial, manufacturing, textiles, energy, transport, construction and now retail sectors without measures put in place to protect South African jobs and our national sovereignty," general secretary Irvin Jim told journalists in Johannesburg.

"Numsa is not against participation of foreign capital in our economy as long as this is not at the expense of jobs and our national sovereignty."

Jim described Walmart as a "hoover", saying jobs would be "liquidated in front of our eyes".

He was speaking after a meeting of Numsa's central committee which has been held since August 15 - 19.

The Walmart-Massmart merger was approved by the Competition Tribunal on May 31, subject to certain conditions.

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