The recent strikes by the unions of Bharat Sanchar Nigam Limited (BSNL) over the issuance of initial public offering (IPO) feud seems to sadden them but the BSNL board is likely to meet on August 27 to reach an amicable solution with the agitated unions. The agenda for the BSNL meet also has plans to discuss the strategies to be adopted for growth and implementation of its new business models.

The Bharat Sanchar Nigam Limited (BSNL) union groups have already called for a general strike on August 20 in protest at the company’s initial public offering (IPO) plans. The telecom minister Andimuthu Raja had earlier failed to mollify its agitated unions that have been opposing the proposed IPO, amounting to 10 per cent relief from Public Service Undertaking (PSU).

The BSNL chairman and managing director, Kuldeep Goyal has tried to butter up its annoyed employees saying the company’s most important priority is employee acceptance in its IPO plans. Goyal made it clear that the state telco wouldn’t be hurrying towards its listing proposals until and unless it reaches to an agreeable terms with the employees.

The minister of State for Communications, Jyotiraditya Scindia supporting the decision has said in a statement that the telco was just considering about IPO but hasn’t yet finalized it. Further assuring non-privatization of the company, he said the IPO will only dilute 10 per cent equity stake  as it has nothing to do with privatizing BSNL.

The unions may also go on an indefinite strike. X