Zweli Mokgata
Zweli Mokgata
The Competition Tribunal yesterday approved the acquisition of Vodacom by UK-based telecoms giant Vodafone, despite an impassioned attempt to block the merger by the Communications Workers Union.
What was meant to have been a minor formality turned into a prolonged submission by the union that the 15percent acquisition of Vodacom to give Vodafone a controlling stake in the company would mean major job losses in the sector.
Vodafone and Telkom each currently have a 50percent shareholding in Vodacom until the transaction is finalised.
Union tries to block Vodacom merger
Zweli Mokgata
Zweli Mokgata
The Competition Tribunal yesterday approved the acquisition of Vodacom by UK-based telecoms giant Vodafone, despite an impassioned attempt to block the merger by the Communications Workers Union.
What was meant to have been a minor formality turned into a prolonged submission by the union that the 15percent acquisition of Vodacom to give Vodafone a controlling stake in the company would mean major job losses in the sector.
Vodafone and Telkom each currently have a 50percent shareholding in Vodacom until the transaction is finalised.
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