Africa
Massmart files competition complaint against Shoprite, Pick n Pay, Spar
South Africa's Massmart Holdings has filed an anti-competition complaint against three major rivals to fight their exclusive leases with shopping centres.
The exclusive leases can last anywhere from five to 20 years, she said.
"The company is of the opinion that exclusive lease agreements are intuitively anti-competitive and prevent it from developing an offering that can compete effectively with the entrenched, national retail chains," Massmart said in a statement.
Massmart was also down nearly 1 percent.