In case you missed it, the Competitions Commission has given the thumbs up to WalMart to take a 51 percent stake in Massmart. The official line from the Massmart SENS announcement is as follows: "Massmart shareholders are advised that on Friday, 11 February 2011, Massmart and Walmart received notification that the Competition Commission, in terms of section 14A of the Competition Act (Act 89 of 1998), had recommended to the Competition Tribunal that the Scheme be approved without conditions."
At first glance it is as boring as the intro of a text book (written by your economics professor) and his colleague has written a glowing bio on him. But wait, this is very important. WalMart have committed to the country, by being flexible, and let us be honest, not getting what they wanted. Being all of the company, that would have been first prize. And secondly, more importantly, the local authorities have said, ja-no-well-fine, go ahead.
Now the Competitions Tribunal convene and decide whether or not to go ahead and then the dates will be available to us. Ummmm.... so the Competitions Commission investigates for the Competitions Tribunal and recommends that the scheme goes ahead. The Competitions Tribunal then looks at the scheme and then says yes, we agree. Is that the correct interpretation? Methinks so. Expect the dates soon, around then end of February, and then perhaps sewn up before the end of March. Quite a process you will agree.