It was reported this week that Telkom wishes to sell the stake to a South Korean firm for R4.6bn and further avail its shares to be bought at R36.06.
In a statement Matankana Mothapo, national spokesperson of the CWU, expressed outrage at the reports.
"We are the biggest union in Telkom and we have never been consulted about the said selling of shares. There has never been a meeting in terms of the Collective Agreement that we have with the company to be consulted on issues of operation and governance.
"CWU would like to remind Telkom that they have partially privatised the firm which ended up eroding jobs of more than 20 000 employees who are the poor of the poorest. We reject any form of privatisation in Telkom. What we see now is a plot by the elites by the Telkom capitalists to ensure that they maximise their profit before the goal of the working class is achieved."
He said CWU believed the Public Prosecutor must intervene in previous Telkom dealings.
"We have never received an audited report on what happened on a multi-million deal made by Telkom in Nigeria which almost collapsed the company finances. It would be in the best interests of the public to know who initiated the deal, as it is workers who suffered when the financial year commenced.
" We believe that the public prosecutor now must intervene as we are suspicious of the possibility that there are individuals who benefited from these transactions which never saw the light of day, but the tax payer's money was wasted and no one has accounted for that. CWU support the sentiments made by our federation, Cosatu not to support the privatisation of Telkom."
Telkom had not responded to questions sent on Monday regarding the reports.Post published in: Africa News