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I bought Massmart shares, after going shopping at Makro and I was impressed with the volumes of trades and how much each person was buying, despite the fact that there is a recession. I never had any idea at all that Walmart would come along and make a R34 billion offer to buy them out. That obviously has sent the share price rocketing up, but the 15 000 staff members of Massmart will be quite excited, because they all took part in the company’s share stream and are apparently going to walk away with about R100 000,00 each!
The Executive President of Walmart indicated that Walmart was investing in South Africa because, “SA is a true emerging market, with good GDP growth and an emerging consumer who has a desire and need for a traditional, low priced proposition.”
Posted by Michael de Broglio on Monday 11-Oct-10
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BRIDGET LOOCK said:
on Monday 18-Oct-10 12:39 PM
Does Walmart not have a bad record with staff relations, bad pay and working conditions? The share market might be happy but to me it spells out American cheap horrible quality food and products. I have tasted america's supposed "top quality sweets" and it does not come near to South Africa's quality. We are saddly falling head over hills for the ways of the west. Air/rubbish volumised and bulked food. Perhaps someone can put my mind at ease and say otherwise?
Johannesburg based attorney specializing in personal injury matters including Road Accident Fund claims and medical negligence matters. My interests include golf, reading and the internet and the way it is constantly developing. I have a passion for life and a desire for less stress!
