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Competition Tribunal - Tribunal prohibits Massmart/Moresport merger
TRIBUNAL PROHIBITS MASSMART/MORESPORT MERGER
The Competition Tribunal has today, 10 April 2006, prohibited the large merger
between Massmart Holdings and Moresport.
The Competition Tribunal will hand down the reasons for the decision in due
course.
Massmart intended to acquire 84.12% of the issued share capital of Moresport
from Nedbank, Vestakor and current management.
Both parties are involved in the retailing of a wide range of sporting and
outdoor goods. The parties operate the following relevant branded outlets Makro,
Game and Dion from the Massmart side and Sportsmans Warehouse, Outdoor Warehouse
and Sport Shoe World from Moresport side.
The Commission recommended prohibition because in its view the merger would
remove an existing effective competitor from the already concentrated markets in
which the parties compete. And the transaction would substantially prevent or
lessen competition in the markets for the retailing of general sporting and
outdoor equipment through national chains.
Issued by: Jane Sussens
Communications Advisor
Tel: (011) 483 2687
Cell: 082 920 0875
Fax: (011) 483 2686
On Behalf of: Lerato Motaung
Registrar
The Competition Tribunal
Tel: (012) 394 3355
Cell: 082 556 3221
E-Mail: leratom@comptrib.co.za
Date: 10/04/2006 12:33:29 PM Produced by the JSE SENS Department
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