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.