The feuding Ambani brothers are discussing the possibility of cooperating in the telecommunications sector,
the
Financial Times
reported.
Mukesh Ambani’s Reliance Industries is considering using Anil Ambani’s Reliance Communications’ tower infrastructure to launch its broadband and wireless Internet services, the
FT
article said. Mukesh is “the elder and richer” brother. Reliance Communications had a net debt of about $7 billion at the end of March 2011, according to the report.
Analysts have long speculated that Mukesh Ambani could bid for his brother Anil’s telecoms assets at the right price. Reliance Industries needs the infrastructure to power its Internet business after it acquired Infotel, the only company to have won an India-wide allocation of fourth-generation spectrum in an auction.
Their discussions have “ignited speculation” that the brothers “may reunite the business empire founded by their late father and conclude one of Asia’s biggest dynastic battles,” the
FT
report said. Mukesh and Anil “still rarely speak to each other,” the article noted. (Source:
Financial Times,
Nov. 2, 2011.)
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