"We oppose divestment in principle. But, it must be up to 25 per cent which is the requirement of SEBI for listing. Anything beyond this is not accepted and we condemn this act," INTUC-backed Coal sector union leader SQ Zama said. The government holds 78.32 per cent stake in Coal India.
LIC is the biggest public shareholder with 8.97 per cent stake in the state mining major. CITY-backed All India Coal Workers Federation secretary D D Ramanandan said it condemns the act and all the trade unions will discuss the matter.
"We have already called an all India strike in January but we will discuss such actions and decide the next course of action," he said.
(With inputs from agencies.)