Thursday, January 17, 2008

BSNL Unlikely To Go For IPO

New Delhi: The Communication and IT Minister''s plans for getting Bharat Sanchar Nigam Ltd listed on the bourses may go askew, with the employees union intimidating to go on an indefinite strike from February 26 to protest the stake sale. Top BSNL officials said that there could be a rethink on the proposal given the severe opposition. The Department of Telecom will re-look the proposal. It will be difficult to push via the stake sale given the opposition from the company employees. It is only at a proposal stage and it has been categorically said that a final decision will be taken by DoT after considering all the issues, including worries of the employees. The BSNL employees union said that it would issue a notice to the Government on January 24 announcing its intent to go on an indefinite strike. The Government is playing into the hands of the private sector by considering such a move.

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