Sunday, June 15, 2008
RELIANCE: THE SIBLING RIVALRY CONTINUES
Even after the reliance group announced he division of the companies between the two brothers-Mukesh and anil ambaniin june 05,relations continued between the two. the latest dispute is reliance industriesof Mr.mukesh ambani claiming first right to his brothers stake in reliance communications in the event of equity swap with MTN of south africa with wich reliance communications is involved in merger talks.
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Mukesh Ambani is simply making a big noise over nothing.Its just a jealous older brother trying to hamper a prosperous younger brothers growth. The claims made by Reliance Industries Limited are baseless and were based on an agreement in 2006, which was signed only by Reliance Industries officials and was later overturned by the Bombay High Court.
This deal would would create one of the world’s largest emerging-markets telecom operators with 115m subscribers spread across Africa, India and the Middle East.
I wish the ADAG group all the luck.
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