A South African labour union by the name of COSATU is working behind scenes to halt the proposed merger between Bharti Airtel and the MTN Group.
“COSATU is quietly putting pressure on the government not to allow this transaction,” Reuters quotes its source has said. “They don’t want to repeat the bitter pill that happened with the Vodacom and Vodafone deal.”
The source further reveals that while the treasury wants the deal to happen the union apprehends that the deal might lead to job cuts in the merged entity.
“We have to discuss that matter, even if it is MTN or any other deal that is under hand. This crass materialism is exactly what we are trying to deal with. That’s what seems to determine the agenda and the trajectory,’ said a source close to the Union to Reuters. |