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Ambanis bury hatchet; agree for cordial competition

New Delhi: Striking a cordial note, the warring Ambani brothers on Sunday agreed to dump their differences and non-compete agreements saying this would eliminate any room for further “disputes”.

Announcing that they would also expeditiously negotiate gas supply agreement in accordance with the Supreme Court order earlier this month, the groups of both Mukesh and Anil vowed to fulfill vision of their father Dhirubhai Ambani, after whose death they separated following (rpt following) an acrimonious fight.

There were speculations that the agreement, approved by the boards of Mukesh-led RIL and Anil Ambani Group, came after the two brothers had discussions between them but spokespersons of either did not confirm the same.

The announcement came within days of Anil Ambani meeting Prime Minister Manmohan Singh as also top Cabinet ministers.

One comment

  1. Reliance is a massive free cash flow machine as its oil and petrochemicals businesses are one of the most profitable around the world.Its project execution abilities are also well known.I don’t think that Reliance would like to enter the Hyper Competitive Telecom market but it would make sense to enter the Power Sector where India faces a huge shortfall

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