Is an end in sight for the Reliance dispute?

October 12, 2009

File photo of Anil and Mukesh AmbaniThe feud between the billionaire Ambani brothers became public in 2004, and still drags on.

On Sunday, Anil Ambani issued a statement expressing his willingness to end the bitter feud with elder brother Mukesh.

Anil Ambani has taken the support of the media to convey his side of the story.

Through a series of front-page advertisements in major Indian newspapers, Anil recently accused the Petroleum Ministry of taking the side of Reliance Industries.

Earlier in July, he used an annual shareholders’ meeting to lay into his elder brother and the government.

Reliance Industries has welcomed the move by Anil, but said the dispute under litigation was not merely a family matter and hoped “any overtures for rapprochement are in no way related to the ongoing hearing of the case”.

Media reports say Mukesh’s Reliance Industries may not trust Anil’s word after their recent media campaign.

Are you surprised by Anil’s move? Do you think it can help put an end to the Reliance corporate battle?

Comments

I bet these siblings will never make up — Cain and Abel didn’t, and the Ambani brothers have too much at stake after so many years apart.

Posted by Toe Knee | Report as abusive
 

Who cares, I own reliance natural shares. What more do I want? a 5 pct gain just because Anil said a few words. Anil – Pls say more!

Posted by Anil | Report as abusive
 

The announcement surely took everyone by surprise on Sunday. There are now several theories going on around on the battle. Some say there is no battle between the brothers and this is all just made up for reasons no one knows. Others say Anil Ambani is fighting a losing battle, so he is now trying to get out of this mess. Still some others say the brothers have patched up. To conclude, no one knows what really is happening. What do you think Aditya?

 

@ Rakesh
I agree with you, there no clarity on what actually has happened. The move indeed was surprising after Anil’s recent media campaign.
Only time can tell..

Posted by Aditya | Report as abusive
 

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