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Wal-Mart gets Massmart consent
US grocer Wal-Mart yesterday got the green light for its $2.4bn (1.5bn) purchase of most of South African discount retailer Massmart. South Africa’s competition body said Wal-Mart must not cut jobs for two years and develop local suppliers as part of the deal, first mooted in September. The conditions were less stringent than feared, helping to strengthen the rand against the dollar.