New Delhi, Nov. 5 -- Canadian billionaire Prem Watsa-led Fairfax Financial Holdings' proposed $5.5 billion (around Rs.53,000 crore) acquisition of a majority stake in IDBI Bank has triggered opposition from employee unions and political parties, with concerns ranging from the lender's valuation and transparency of the disinvestment process to the future of employees and public ownership.

The proposed transaction, approved by the Indian government on October 14, involves the sale of a combined 60.72% stake held by the Centre and Life Insurance Corporation of India (LIC) to Fairfax. If completed, it would mark the largest foreign investment in India's banking sector and a significant step in the government's long-delayed banking privatisat...