India's feuding Ambani brothers ink telecoms deal
April 4 , 2013
India's wealthiest man Mukesh Ambani and his brother Anil, who have been embroiled in a feud over their father's businesses, signed a $200 million telecoms deal on Wednesday.
Under the deal, separate telecom firms run by the billionaire brothers will share networks in a bid to speed up 4G services.
Relations between the Ambanis became turbulent during a dispute over the conglomerate left by their father, Dhirubhai, who passed away in 2002 without leaving behind a will.
Relations improved in 2010 when the brothers dispensed of a non-competition agreement that prevented them for entering the same businesses.
The following year, they came together to dedicate a memorial to their father with their mother, Kokilaben, telling reporters: "There is love between the brothers".
Mukesh Ambani is chairman and managing director of Reliance Industries, one of the world’s biggest conglomerates.
Meanwhile, Anil Ambani has varied interests in power, infrastructure and finance.
The Reliance empire was split between the two brothers in 2005 following a seven-month feud.
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