BSNL, which is considering launching an IPO and diluting 10 per cent stake, has attracted strong opposition from the Communist Party of India (Marxist) as well as its own employees union.

BSNL, which is considering launching an IPO and diluting 10 per cent stake, has attracted strong opposition from the Communist Party of India (Marxist) as well as its own employees union. According to the party, BSNL’s argument that funds are needed for the development and expansion is baseless as the company had a surplus of about Rs 40 billion in 2006-07.