A right-wing trade union movement in South Africa has launched a campaign to prevent Britain-based Indian origin steel baron Lakshmi Mittal's move to take control of two steel companies in the country.
The Solidarity Trade Union, comprising mainly of white Afrikaners, is campaigning against Mittal's LNM group, the world's second-largest steel conglomerate, from taking over Highveld Steel and ISCOR.
LNM already owns 49.9 per cent of ISCOR and is currently negotiating to purchase a majority of the shares.
LNM is also negotiating to take control of Highveld Steel.
Solidarity said in a statement today that it would oppose the planned take-over should it be brought before the Competition Board.
"If LNM should gain control of Highveld also, the entire steel sector would be controlled by a foreigner", said Dirk Hermann, a spokesperson for Solidarity.
