South Africa wants "concrete commitments" from U.S. retail giant Wal-Mart (WMT.N) not to cut jobs in its proposed takeover of regional chain Massmart (MSMJ.J), trade minister Rob Davies said on Wednesday. "We want to ensure that this investment, or this merger, if it takes place, does not have some of the potential negative effects, in terms of job losses in particular," he told Reuters on the sidelines of the World Economic Forum for Africa. "Some of the things that we have heard from the proponents of this merger -- that there should be job growth -- we want to see all those things tied down and nailed down," he said.
Wal-Mart Stores, Inc. (Walmart) operates retail stores. Shares of WMT traded higher by 0.07% or $0.04/share to $55.5. In the past year, the shares have traded as low as $47.77 and as high as $57.90. On average, 11717600 shares of WMT exchange hands on a given day and today's volume is recorded at 3012862.
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