IDBI Bank Workers Call Strike to Oppose Fairfax’s $5.5 Billion Bid

Workers at India’s state-owned IDBI Bank called for a two-day nationwide strike against Fairfax Financial Holdings’ proposed $5.5 billion takeover, adding pressure to a sale that would set a sector record if approved. The United Forum of IDBI Officers and Employees announced the strike Sunday, Nov. 1, and urged the government to stop the privatization process. The union wants IDBI strengthened while protecting public investment and employees’ interests. It also raised concerns about the sale’s transparency and valuation.

Source: TokenPost