MUMBAI: The bonhomie between the Ambani brothers scaled another high on Tuesday when Anil vowed to work with his elder brother to fulfil the dreams of their late father, Dhirubhai Ambani.
"Anil Ambani & Mukesh Ambani are working hand in hand to create the India Shri Dhirubhai Ambani dreamt of," Anil Ambani-promoted Reliance Group tweeted, quoting its chairman.
Anil told shareholders of his group company Reliance Communications+ (RCom) that the telecom services of RCom and Reliance Jio+ , owned by his elder brother Mukesh, have "virtually merged". Anil Ambani's RCom and Mukesh Ambani's RJio have started sharing telecom infrastructure, which includes mobile towers, optical fibre networks and spectrum of RCom and electronics and 4G LTE services of RJio+ , the younger Ambani brother told RCom shareholders on Tuesday .
The two siblings had parted ways a decade ago by carving up Reliance, which their father had built, in what was probably India Inc's most high profile family split. There has been a rapprochement between the brothers since then, though their businesses remain independent.
However, Reliance group officials later clarified that the younger Ambani was not hinting at any legal merger. "The two companies are not merging. But we are sharing all the infrastructure and every RCom customer is now enjoying 4G services just like RJio services. Also, if required, RJio can also use our spectrum for 2G and 3G services.We have agreement to share spectrum also," a senior Reliance group official explained.
Currently, RCom is in the process of merging with Aircel to create a combined entity worth Rs 65,000 crore. Once the merger is complete, it will be the third largest telecom service provider in India -after Airtel and Vodafone. Other than mobile services business, the company also has international data cable and enterprise businesses.
On Tuesday, in an AGM for Reliance Capital, Anil Ambani's son Anmol was inducted into the board of directors as an executive director after shareholders' approval. He was an additional director with the company
Introducing Anmol, Anil said his son had brought "tremendous luck" to the company as its share price has surged 40% since the 24-year old was inducted into the board on August 23.
At the Reliance Infrastructure (RInfra) shareholder meet, Anil said that the company was on course for a complete transformation in 3-5 years. Defence is now the focus area for the company and a Rs 1,000-crore contract will soon be signed with the Indian Coast Guard, Ambani said.
"Anil Ambani & Mukesh Ambani are working hand in hand to create the India Shri Dhirubhai Ambani dreamt of," Anil Ambani-promoted Reliance Group tweeted, quoting its chairman.
Anil told shareholders of his group company Reliance Communications+ (RCom) that the telecom services of RCom and Reliance Jio+ , owned by his elder brother Mukesh, have "virtually merged". Anil Ambani's RCom and Mukesh Ambani's RJio have started sharing telecom infrastructure, which includes mobile towers, optical fibre networks and spectrum of RCom and electronics and 4G LTE services of RJio+ , the younger Ambani brother told RCom shareholders on Tuesday .
The two siblings had parted ways a decade ago by carving up Reliance, which their father had built, in what was probably India Inc's most high profile family split. There has been a rapprochement between the brothers since then, though their businesses remain independent.
However, Reliance group officials later clarified that the younger Ambani was not hinting at any legal merger. "The two companies are not merging. But we are sharing all the infrastructure and every RCom customer is now enjoying 4G services just like RJio services. Also, if required, RJio can also use our spectrum for 2G and 3G services.We have agreement to share spectrum also," a senior Reliance group official explained.
Currently, RCom is in the process of merging with Aircel to create a combined entity worth Rs 65,000 crore. Once the merger is complete, it will be the third largest telecom service provider in India -after Airtel and Vodafone. Other than mobile services business, the company also has international data cable and enterprise businesses.
On Tuesday, in an AGM for Reliance Capital, Anil Ambani's son Anmol was inducted into the board of directors as an executive director after shareholders' approval. He was an additional director with the company
Introducing Anmol, Anil said his son had brought "tremendous luck" to the company as its share price has surged 40% since the 24-year old was inducted into the board on August 23.
At the Reliance Infrastructure (RInfra) shareholder meet, Anil said that the company was on course for a complete transformation in 3-5 years. Defence is now the focus area for the company and a Rs 1,000-crore contract will soon be signed with the Indian Coast Guard, Ambani said.
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