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Vol 50 No 11

Published 29th May 2009

South Africa

The telephone test

The trades unions' legal challenge to the listing of the multibillion dollar Vodacom cellular phone group on the Johannesburg Stock Exchange tested President Jacob Zuma's political nerves. But to the corporate world's relief, the challenge was thrown out by the High Court on 17 May. The listing, the biggest on the JSE this year, follows a merger between South Africa's Vodacom and Britain's Vodafone. It was approved last year by interim President Kgalema Motlanthe, who failed to consult either Zuma and the unions, and gives a foreign company 65% control of South Africa's biggest mobile operator.

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