Posts Tagged Mergers and acquisitions
The federation also fully supports the three government ministers who are calling for a legal review of the Tribunal decision, based on their fact that the Tribunal unreasonably denied government departments access to information in the possession of the merging parties and took a far too narrow view of the merger.
The Competition Act requires the Tribunal to consider the competition and public interest effects of a proposed merger – whether it promotes employment and advances the social and economic welfare of South Africans – and not just the narrow interests of the firms who intend to merge.
In particular, COSATU insists that the application needs to be judged against the background of the job-loss bloodbath which has hit the country in recent years. Unemploymenttoday stands at 36, 6%, greater than any other middle-income country or any comparable economy.
The labour market has been depressed for so long that many unemployed people are getting discouraged and leave the labour market for good – too discouraged to look for a job.
- South Africa resists being ‘Walmartised’ (guardian.co.uk)
- SA is fast becoming a hellhole like Zimbabwe (preinnovator.wordpress.com)
- Jobless rate hits 25,7% – labour recession (readyco.wordpress.com)
- SA treatment of whites is human rights violation: iLIVE (bananaza.wordpress.com)