The goal of this work is to study the metaphors as ways of thinking about and seeing the identities of an organization. In the empirical approach used in the research, a case study was carried out in a corporation of the telecommunications sector in the state of Minas Gerais, the Telemig. The case study covers the history of the Telemig throughout the whole decade of 1990 and its transformation from a public agency into a branch of a private holding. In the construction of the narratives about this transformation, one can observe in the groups analyzed the use of metaphors which attempted to describe not only the ways such groups perceived the organization, but also the ways they identified themselves with it. This way, by the top administration, the organization is identified as a number one or a reference; by the union, as the cave and the great sinner; by the managers, as the big family and the dairy cow; and by the technicians, as the mother and the stepmother.