New Delhi: Richest Indian Mukesh Ambani saving younger brother Anil from jail by helping his struggling telecom firm repay Swedish supplier Ericsson<\/a> may be a watershed moment in the relationship between the two brothers, who have in the past publicly bickered and fought court cases against each other. Industry<\/a> watchers said the last-minute bailout may mark the beginning of a more harmonious relationship between the two brothers after more than a decade of strained ties. 新德里:印度首富穆凯什•安巴尼拯救弟弟阿尼尔从监狱通过帮助陷入困境的瑞典电信公司偿还供应商爱立信可能是一个转折点在两兄弟之间的关系,他们在过去的公开争吵和相互法庭案件。行业观察人士表示,最后的救助可能标志着开始两兄弟之间的关系更和谐经过十多年来的紧张关系。
Anil, who along with his wife and children was photographed enjoying the recent weddings of Mukesh's children, thanked his elder brother and sister-in-law for \"standing (by him) during these trying times, and demonstrating the importance of staying true to our strong family values by extending this timely support.\"
\"I and my family are grateful we have moved beyond the past, and are deeply grateful and touched with this gesture,\" he said on Monday after getting Rs 458 crore from Mukesh that he used to repay dues towards Ericsson.
The tone of the statement was \"reconciliatory\", said a senior industry official who has closely followed the business journey of the two brothers. \"This could well be a new beginning for them,\" he said.
A source said the two brothers could even work more closely in the future. \"It may well turn out to be a watershed moment in their relationship.\"
Both the groups did not immediately reply to e-mails sent for comments.
Anil's heavily debt-laden Reliance Communications<\/a> made a Rs 550-crore payment, including interest, to Ericsson just a day before the expiry of the deadline set by the Supreme Court to clear dues or face a three-month jail term.
Soon after making the payment, RCom<\/a> announced the termination of a Rs 17,000-crore deal to sell telecom assets like spectrum, fiber and tower to Mukesh's Reliance<\/a> Jio<\/a>, citing delays in approvals from the government and lenders.
Those assets will now be sold in bankruptcy proceedings where Jio is likely to be a prominent bidder.
The two brothers had fought a bitter public battle after their father Dhirubhai died in 2002 without leaving a will. Three years later, they split the conglomerate with the elder brother getting oil and petrochemical business and Anil winning control of newer business such as power, telecom, and financial services.
The two brothers, who prior to the patriarch's death served as executives at their father's company, got assets with almost equal value.
But the bickering did not end with the split as Anil took elder brother to court for failing to honour a contract for the supply of natural gas to his power plants. The case went up to the Supreme Court which ruled in Mukesh's favour.
In 2008, Mukesh cited right of first refusal to stall a merger of Reliance Communications with South Africa's MTN to take on the competition.
Fortunes of the two brothers have since splitting their father's Reliance empire seen a dramatically contrasting path -- while older brother's oil and petrochemicals business flourished, Anil's telecom and power businesses strained under massive debt as it invested billions to expand his portfolio. But unlike Mukesh who had a cash cow in an oil refinery to finance growth, the rising cost of servicing debt and intense competition killed his business.
The net worth of Anil, who was listed by Forbes magazine in 2008 as the world's sixth-wealthiest person, has shrunk to about USD 300 million from at least USD 31 billion in 2008 based on the current foreign exchange rate, according to Bloomberg data. This contrasts to Mukesh being valued at USD 54.3 billion, an increase of USD 10 billion this year alone.
The two brothers in 2010 scrapped a no-compete agreement, paving the way for Mukesh's re-entry into telecom business in 2016 offering free voice call for life and data at dirt cheap prices.
On the other hand, Anil has been selling assets to quell investor concerns around the indebtedness of some of his companies that contributed to declines in his shares.
As debt grew, RCom in December 2017 entered into a deal with Jio to sell spectrum and other assets such as fiber network and telecom towers for an estimated Rs 17,000 crore.
But the deal could not progress amid regulatory hurdles faced as the Department of Telecommunications wanted a written assurance on who would pay for RCom's dues such as spectrum fee.
Jio refused to make a commitment to pay for such fee and lenders to RCom also played hardball, resulting in the deal falling through.
Industry watchers said the developments of Monday point towards the two brothers working together in future.<\/p><\/body>","next_sibling":[{"msid":68487518,"title":"View: Take a bow, Ericsson. And India, take a lesson","entity_type":"ARTICLE","link":"\/news\/view-take-a-bow-ericsson-and-india-take-a-lesson\/68487518","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":68487562,"entity_type":"ARTICLE","title":"'Mukesh bailing out Anil may be watershed moment in their relationship'","synopsis":"Industry watchers said the last-minute bailout may mark the beginning of a more harmonious relationship between the two brothers after more than a decade of strained ties.","titleseo":"telecomnews\/mukesh-bailing-out-anil-may-be-watershed-moment-in-their-relationship","status":"ACTIVE","authors":[],"Alttitle":{"minfo":""},"artag":"PTI","artdate":"2019-03-19 22:22:54","lastupd":"2019-03-19 22:31:43","breadcrumbTags":["Jio","Reliance","Sweden","ericsson","Reliance communications","RCom","Industry"],"secinfo":{"seolocation":"telecomnews\/mukesh-bailing-out-anil-may-be-watershed-moment-in-their-relationship"}}" data-authors="[" "]" data-category-name="" data-category_id="" data-date="2019-03-19" data-index="article_1">
阿尼尔,他连同他的妻子和孩子被拍到享受最近穆克什的孩子的婚礼,感谢他的哥哥和嫂子”站(他)在这艰难时期,和展示我们强大的家庭价值观的重要性,保持正确通过扩展这个及时的支持。”
声明是“和解”的语气,说行业一位高级官员曾密切关注这两兄弟的商业之旅。“这很可能是一个新的开始,”他说。
源说,两兄弟在未来甚至可能更密切的合作。“这很可能是一个分水岭的关系。”
两组没有立即回复电子邮件发送的评论。
阿尼尔的严重负债累累的信实电信了价值550卢比的支付,包括利息,爱立信就在一天之前设定的最后期限期满最高法院明确费,否则将面临监禁三个月。
支付后不久,信实电信宣布了价值17000卢比的协议终止出售电信频谱等资产,纤维和塔穆克什依赖
Jio延迟批准为由,从政府和银行。
这些资产将被出售在Jio破产程序可能是一个突出的投标人。
两兄弟打了一场艰苦的公开战争在2002年他们的父亲迪卢柏死后没有留下一个。三年后,他们将与哥哥获得石油和石化集团业务和Anil赢得控制等新业务的权力,电信和金融服务。
这两兄弟,族长去世前在他们父亲的公司担任高管,有资产几乎相等的价值。
但是争吵并没有结束与分裂Anil带哥哥去法院未能兑现合同供应的天然气发电厂。的案件上升到最高法院判决穆凯什。
穆克什援引2008年的第一次拒绝停滞Reliance Communications的合并与南非MTN的竞争。
两兄弟的命运已经将他们的父亲帝国看到显著对比路径的依赖,而哥哥的石油和石化产品业务蓬勃发展,阿尼尔的电信和电力企业紧张下巨额债务,投资数十亿美元扩大其投资组合。但与穆克什曾在一个炼油厂摇钱树财政增长,偿还债务成本的上升和激烈竞争杀死了他的生意。
阿尼尔的净值,是谁在2008年被《福布斯》杂志列为世界sixth-wealthiest人,已经缩减到大约3亿美元从2008年的至少310亿美元根据当前汇率,根据彭博社的数据。这个对比穆克什价值543亿美元,仅今年就增加了100亿美元。
两兄弟在2010年取消了no-compete协议,铺平了道路穆克什重新进入电信业务2016年,终身提供免费语音通话和数据以廉价的价格。
另一方面,阿尼尔一直出售资产来平息投资者的担忧他的一些公司的债务,导致股价下跌。
随着债务的增长,2017年12月进入处理RCom Jio出售光谱和其他资产如纤维网络和电信塔约17000卢比。
但这笔交易无法进步的部门在监管障碍面临电信希望书面保证等谁将支付的会费RCom频谱费。
Jio拒绝承诺支付费用和银行等也是RCom强硬手段,导致交易失败。
行业观察人士表示,周一的发展指向两个兄弟一起工作在未来。
New Delhi: Richest Indian Mukesh Ambani saving younger brother Anil from jail by helping his struggling telecom firm repay Swedish supplier Ericsson<\/a> may be a watershed moment in the relationship between the two brothers, who have in the past publicly bickered and fought court cases against each other. Industry<\/a> watchers said the last-minute bailout may mark the beginning of a more harmonious relationship between the two brothers after more than a decade of strained ties.
Anil, who along with his wife and children was photographed enjoying the recent weddings of Mukesh's children, thanked his elder brother and sister-in-law for \"standing (by him) during these trying times, and demonstrating the importance of staying true to our strong family values by extending this timely support.\"
\"I and my family are grateful we have moved beyond the past, and are deeply grateful and touched with this gesture,\" he said on Monday after getting Rs 458 crore from Mukesh that he used to repay dues towards Ericsson.
The tone of the statement was \"reconciliatory\", said a senior industry official who has closely followed the business journey of the two brothers. \"This could well be a new beginning for them,\" he said.
A source said the two brothers could even work more closely in the future. \"It may well turn out to be a watershed moment in their relationship.\"
Both the groups did not immediately reply to e-mails sent for comments.
Anil's heavily debt-laden Reliance Communications<\/a> made a Rs 550-crore payment, including interest, to Ericsson just a day before the expiry of the deadline set by the Supreme Court to clear dues or face a three-month jail term.
Soon after making the payment, RCom<\/a> announced the termination of a Rs 17,000-crore deal to sell telecom assets like spectrum, fiber and tower to Mukesh's Reliance<\/a> Jio<\/a>, citing delays in approvals from the government and lenders.
Those assets will now be sold in bankruptcy proceedings where Jio is likely to be a prominent bidder.
The two brothers had fought a bitter public battle after their father Dhirubhai died in 2002 without leaving a will. Three years later, they split the conglomerate with the elder brother getting oil and petrochemical business and Anil winning control of newer business such as power, telecom, and financial services.
The two brothers, who prior to the patriarch's death served as executives at their father's company, got assets with almost equal value.
But the bickering did not end with the split as Anil took elder brother to court for failing to honour a contract for the supply of natural gas to his power plants. The case went up to the Supreme Court which ruled in Mukesh's favour.
In 2008, Mukesh cited right of first refusal to stall a merger of Reliance Communications with South Africa's MTN to take on the competition.
Fortunes of the two brothers have since splitting their father's Reliance empire seen a dramatically contrasting path -- while older brother's oil and petrochemicals business flourished, Anil's telecom and power businesses strained under massive debt as it invested billions to expand his portfolio. But unlike Mukesh who had a cash cow in an oil refinery to finance growth, the rising cost of servicing debt and intense competition killed his business.
The net worth of Anil, who was listed by Forbes magazine in 2008 as the world's sixth-wealthiest person, has shrunk to about USD 300 million from at least USD 31 billion in 2008 based on the current foreign exchange rate, according to Bloomberg data. This contrasts to Mukesh being valued at USD 54.3 billion, an increase of USD 10 billion this year alone.
The two brothers in 2010 scrapped a no-compete agreement, paving the way for Mukesh's re-entry into telecom business in 2016 offering free voice call for life and data at dirt cheap prices.
On the other hand, Anil has been selling assets to quell investor concerns around the indebtedness of some of his companies that contributed to declines in his shares.
As debt grew, RCom in December 2017 entered into a deal with Jio to sell spectrum and other assets such as fiber network and telecom towers for an estimated Rs 17,000 crore.
But the deal could not progress amid regulatory hurdles faced as the Department of Telecommunications wanted a written assurance on who would pay for RCom's dues such as spectrum fee.
Jio refused to make a commitment to pay for such fee and lenders to RCom also played hardball, resulting in the deal falling through.
Industry watchers said the developments of Monday point towards the two brothers working together in future.<\/p><\/body>","next_sibling":[{"msid":68487518,"title":"View: Take a bow, Ericsson. And India, take a lesson","entity_type":"ARTICLE","link":"\/news\/view-take-a-bow-ericsson-and-india-take-a-lesson\/68487518","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":68487562,"entity_type":"ARTICLE","title":"'Mukesh bailing out Anil may be watershed moment in their relationship'","synopsis":"Industry watchers said the last-minute bailout may mark the beginning of a more harmonious relationship between the two brothers after more than a decade of strained ties.","titleseo":"telecomnews\/mukesh-bailing-out-anil-may-be-watershed-moment-in-their-relationship","status":"ACTIVE","authors":[],"Alttitle":{"minfo":""},"artag":"PTI","artdate":"2019-03-19 22:22:54","lastupd":"2019-03-19 22:31:43","breadcrumbTags":["Jio","Reliance","Sweden","ericsson","Reliance communications","RCom","Industry"],"secinfo":{"seolocation":"telecomnews\/mukesh-bailing-out-anil-may-be-watershed-moment-in-their-relationship"}}" data-news_link="//www.iser-br.com/news/mukesh-bailing-out-anil-may-be-watershed-moment-in-their-relationship/68487562">
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