12 years after Ambani brothers split, Mukesh to Anil’s rescue - The Hindu BusinessLine
Mumbai: Reliance Communications Chairman Anil Ambani today said his relationship with his brother Mukesh Ambani is cordial and all. For Indian tycoon Anil Ambani, it was a humbling denouement to the for a big package,” the person says, calling the fraternal relationship. Industry watchers said that the writing was on the wall way back in , when the Ambani brothers announced that they will share a fibre optic.
I thought an encounter is what we see in movies.
But here I was, just sitting in their office and suddenly the CBI people come in and they bring in A Raja to see the reaction. Because I had always met him as the minister for telecommunications.
I went through that experience of torture, trauma, mental agony, mental stress— these are life-changing experiences. They are not for the ordinary.
12 years after Ambani brothers split, Mukesh to Anil’s rescue
You go to the CBI court. My wife Tina was also dragged in. But the charmer that she is, Tina answered all questions, and very graciously invited the judge to visit our Kokilaben Ambani hospital, which she leads. Laughs I would get calls from people saying you are going to get arrested tomorrow, or you are going to go to jail. But my conscience was clear. And no one else should undergo the same suffering.
Today, I have a better appreciation of life.
Mukesh Ambani: The $41 billion wealth gap that divides Mukesh and Anil Ambani - The Economic Times
The Ambanis forayed into the mobile services business in the early nineties after Anil went to his father and apprised him about the market potential. At that time, a cellphone would cost around Rs 30, The metro circles were already awarded, so the family bid for the C-category circles and bagged them.
Dhirubhai told his sons to bring down the cost of making a phone call so that it becomes cheaper than sending a postcard. His vision paid off. And the rest is history. But, a few years after Dhirubhai passed away intwo Reliance groups were created.
But as it turned out, most of the transactions he was close to sealing did not work out. But today, he has no regrets.
About a year back, Ambanis had a better warmth in their relations than today at least in their comments on each other.
Anil Ambani said in September that his telecom company had "virtually" merged with Reliance Jio. It was just a few days after the lauch of Jio's commercial operations. Mukesh Ambani said in an interview to The Economic Times, he was "happy" that they overcome all their past issues at the family level, but added that their businesses were separate.
The $41 billion wealth gap that divides Mukesh and Anil Ambani
But broadly these statements were seen by the market as a reunion and they expected the elder brother would be there again for the younger. There is no information in the out about the brothers' present personal equations. Mukesh Ambani is busy building his telecom empire, fighting it out with the incumbents. It's true that RCom struggles to find a space when the biggies consolidate their positions.
Bought in as part of his bet on defense as the next engine of growth, the warship and submarine maker has proven hard to turn around. It plans to be debt-free by next year, Anil said at a briefing in August. Electricity generator Reliance Power Ltd. Last month, Rcom sold itskilometer fiber-optic network for 30 billion rupees as part of a disposal that will see it divest of almost all of its wireless assets and exit from the mobile phone business.
Mukesh is gearing up for an even bigger gamble. Still, the media spotlight has been on Mukesh and his wife Nita, head of the Reliance Foundation, for a very different reason. Both their eldest son and daughter got engaged this year, putting the Mumbai and Bollywood elite on high alert for two epic Indian weddings.