Storyline
Canada-India $5.5 billion bank takeover 2026
One page that accretes the verified record as the story develops. Every fact keeps its date and its sources.
1 DAYS
10 FACTS
1 EVENTS
1 SOURCES
FIRST ENTRY NOV 02
NOV 02 · Day 1
Canada-India $5.5 billion bank takeover attracts opposition
Indian media outlet Businessworld reported that government officials had suppressed the valuation of IDBI to make Fairfax's offer seem attractive.
Rahul Gandhi said the sale of over 60% stake in IDBI Bank to Fairfax goes against the commitment of previous governments to hold a 51% stake in the state-owned lender.
The workers' union expressed concerns about the transparency of the sale and valuation process for IDBI Bank.