S.Africa says has no plan to contest Wal-Mart ruling


CAPE TOWN – South Africa’s government has no immediate plan to contest a court ruling against its appeal of Wal-Mart’s $2.4 billion acquisition of local retailer Massmart, a senior minister said on Friday.

Economic Development Minister Ebrahim Patel made the comment at a media briefing.

The Competition Appeal Court earlier on Friday shot down the government’s request to have the deal re-examined, although it did rule that about 500 previously fired workers should be reinstated.