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Trade Unions vote against RBTT sale

Published:Thursday | February 14, 2008 | 1:52 PM

The Federation of Independent Trade Unions in Trinidad and Tobago is calling for shareholders of the Royal Bank of Trinidad and Tobago to vote against a plan to sell the institution to its former owners, the Royal Bank of Canada (RBC).

The trade union body is warning that the move could also have implications for the CARICOM Single Market and Economy.

It believes the proposal could affect the CSME’s policy for the free movement of goods, service, skills and labour across the region.

The banks shareholders will vote on March 26, whether to approve the sale of the group to RBC that sold off its interest in the 1980s.