Rally against BSNL move to bring out an IPO | business | Hindustan Times
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Rally against BSNL move to bring out an IPO

business Updated: Jun 01, 2008 17:24 IST

PTI
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The Joint Forum of Bharat Sanchar Nigam Limited Unions and Executive Associations will hold a nationwide rally on Sunday against BSNL's reported move to come out with an Initial Public Offer on June 3 and over 'false' reports that they had accepted the management's proposals.

Speaking to reporters here, Telecom Employees Progressive Union All India General Secretary V Subburaman termed as false reports in yesterday's papers which said the unions had agreed to BSNL's plan to divest 10 per cent of its shares in the IPO.

He clarified that talks were held on May 29 at Delhi with the BSNL Chairman and Managing Director, representatives from DoT and unions in the presence of Union Minister for IT and Communication A Raja.

"We clearly told them that we are not accepting the listing of BSNL, promotion policy for non exectives and issuance of VRS to 1,500 surplus employees of Central Telegraphic Office.

However on May 30, BSNL issued a notice, stating that the unions had 'responded positively' to the suggestions made by by BSNL. "This is false," he said.

Even though the minister asured them that BSNL will not be listed without their response, what came out in the notice was contradictory, he said.

"We will hold a nationwide rally in this regard tomorrow so that our voices are heard by the Centre and state government", he said.