BSNL’s employee unions have rejected the offer of 500 shares being assigned to each of the 30 million employees at Rs 10 each at the time of the company’s listing.

BSNL’s employee unions have rejected the offer of 500 shares being assigned to each of the 30 million employees at Rs 10 each at the time of the company’s listing. As the company expects to list at Rs 300-Rs 400 per share, at a total valuation of $37-45 billion, the offer would have fetched each employee Rs 150,000-Rs200,000. Meanwhile, the proposed merger of BSNL with Indian Telephone Industries, intended to alleviate the supply crunch faced by the operator, is likely to be withheld.