Anglo Commitment to South Africa Welcomed by Unions, Cosatu Says

(Bloomberg) -- The Congress of South African Trade Unions, the country’s biggest federation of labor groups, said it welcomed Anglo American’s Plc’s commitment to the country after the company unveiled a strategy to exit diamond and platinum businesses as it seeks to fend off a £34 billion ($43 billion) takeover approach from rival BHP Group.

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The labor federation, which has previously said it opposed BHP’s bid, said it expects Anglo to undertake not to fire workers as it restructures. BHP had demanded Anglo spin off its South African platinum and iron-ore units as a condition of the offer.

“We need a commitment that whatever changes Anglo plans include the needs of its loyal employees,” Cosatu said in a response to queries. “Anglo’s professed commitment to South Africa is welcome.”

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