NEW DELHI: Within days of revoking a non-compete agreement that his group had with his younger brother Anil, RIL chairman Mukesh Ambani is believed to have held a long-drawn-out discussion with telecom czar Sunil Mittal.
The meeting took place on the day Mukesh Ambani arrived in Delhi on May 26 to attend the Prime Minister's Council on Trade and Industry meeting.
A Reliance Industries spokesperson declined to comment either on the meeting or the discussions held, but a source said CII president Hari S Bhartia was also present.
The two Ambanis on May 23 decided to scrap a non-compete agreement reached by them in January 2006. But, they decided that Mukesh will keep out of gas-based power plants till 2022.
They had also announced that day that they would expeditiously negotiate a gas supply agreement in accordance with the Supreme Court order of May 7.
There is speculation that Mukesh Ambani could venture into the telecom sector soon and sources indicated that he could pick up stake in one of the Indian telecom players, particularly those who acquired licences in 2008.
Sources also said that Mukesh is talking to new licence holders including Videocon, which has pan-India licence and is looking for a partner to bring in capital to roll out services.
Mukesh had overseen setting up of the telecom business in the undivided Reliance empire (under the brand Reliance Infocomm), but the business went to younger brother Anil Ambani when the brothers decided to part ways in June 2005.
Anil has since renamed the telecom venture as Reliance Communications.
~
timesofindia
At SAMPARK, we provide financial advice and distribute various investment products with the most efficient & widest range, customized specifically to your NEEDS..@ Whether you are keen on small investments or playing it big, We provide financial advice and distribute various investment/financial products with the most efficient & widest range, customized specifically to your NEEDs.
Friday, May 28, 2010
Subscribe to:
Post Comments (Atom)
Popular Posts
-
JOURNEY OF SENSEX The Sensex, has been in existence since 1875, is a free-float market-weighted stock market index of 30 well-established an...
-
8 MILLIONS CHILDREN ARE NOT IN SCHOOL : THE POWER OF YOUR WORDS CAN HELP CHANGE THEIR LIVES .. JOIN THE MOVEMENT NOW
-
If you are an indolent investor prone to piling up idle cash in your savings account, here's an eye-opener. If the bank were to collap...
-
Roti Kapda Aur Makaan (English: Food, Clothing and Shelter) is a 1974 Indian Bollywood Hindi-language film. It was written, pro...
-
Lovely times of our life wl not return back forevr But the lovely relation and the missing memories Will stay in d heart 4EVER..@
-
~ Corporate News Indian Oil Corp, the nation's largest oil firm, announced that it will take 26-49 per cent stake in the Rs 10,00...
-
Zindgi ki Aadhi pareshaniya aise hi dur Ho jaye.. Agar hum 'Ek-dusre ke' baare me bolne ke bajaye 'Ek-dusre se bolna sikh...
-
A person tired & fed up of Life asked GOD: Why so many Mountains & Hills to climb in Life..? GOD Replied: TO HAVE A BETTER ...

No comments:
Post a Comment