THE National Union of Metalworkers of South Africa (Numsa) says the planned buyout of telecommunications group Telkom by MTN should be rejected, warning that the privatisation of the partially State-owned enterprise (SOE) will be detrimental to the working class and the economy.
Earlier in July, Telkom and MTN announced that they were in the early stages of discussions for the potential transaction that will see MTN acquire Telkom.
“If these plans materialise, they must be rejected. Numsa condemns any plan to privatise Telkom. Telkom is a SOE and government, the shareholder, currently owns a 40.5% stake in it,” the union said in a statement on Wednesday.
“We have consistently warned about the dangers of privatisation and the dire impact this would have on the working class and the economy.”
Numsa, outlining five reasons for its stance, says that Telkom, as an SOE, has a developmental role to play in the
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