October 14, 2015 / 3:21 PM / 3 years ago

South African trade union body opposes SABMiller deal

A bartender serves a beer produced by brewing company SAB Miller at a bar in Cape Town, September 16, 2015. REUTERS/Mike Hutchings

(Reuters) - South Africa’s Congress of South African Trade Unions (COSATU) said the government, regulators and pension funds should not agree to the $106 billion takeover of SABMiller Plc SABJ.J SAB.L by Anheuser-Busch InBev SA (ABI.BR) over concerns that jobs and tax revenue would be lost.

COSATU said it supported the stance taken by the Food and Allied Workers Union (FAWU), which said on Tuesday that it would oppose the merger.

“We will never allow a situation where the South African offices of SABMiller are relocated away from South Africa and the local revenues are spiraled out of the country to the detriment of the entire economy,” COSATU said in a statement.

Reporting by Esha Vaish in Bengaluru; Editing by Ted Kerr

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