IDBI Bank stake sale to Fairfax faces opposition
The proposed transfer of a controlling stake in IDBI Bank to Fairfax Financial Holdings faces employee opposition as the transaction progresses.
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Developments
Employee union opposes Fairfax's proposed IDBI Bank acquisition
Reuters reported on 3 November that IDBI Bank employee representatives continued a nationwide strike against the proposed sale of a controlling stake to Fairfax Financial Holdings. The transaction, announced by the Indian government in October, has also drawn political criticism, while the finance minister defended the decision. The reported opposition does not itself cancel the proposed transaction.
This chronological record attributes developments to the linked sources. Reported results are not necessarily final or certified.