New chapter for billionaire Ambani brothers?
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Ambani brothers | annual general meeting | constructive relationship | new agenda | new chapter | non compete agreement | Reliance | reliance industries
Mukesh Ambani, chairman of Reliance Industries, has set out a new agenda of cooperation with younger brother Anil’s firm and forecast more opportunities for his company in the power sector.
Speaking at the company’s annual general meeting of shareholders, Mukesh Ambani said his company was ready to provide gas to ADAG’s power plant when they were ready and looked forward to a “harmonious and constructive” relationship with the company.
Last month, the brothers had taken a step towards reconciliation in their long-running feud, ending a non-compete agreement.
Twitter was abuzz with comments on Friday praising the “patch-up” as a “good move for Brand Corp India”.
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The Wall
This is indeed good news.. and this was long due!!
Many trees have been felled, endless hours have been consumed alongside countless gigabytes of memory space on the Ambani battle.
Now, the patch-up variety will follow suit.
I suspect, the problem, is that we have forgotten the lessons learnt/not learnt in the 1980s.
Then, we allowed Nusli Wadia and Dhirubhai to turn their war into a national issue.
Wadia seems to have buried the hatchet with the Ambanis and gone on to find greener pastures in biscuits, propert et al. Not many have bothered to write/talk about a decade later.
Now that Mukesh and Anil are smoking peace pipes in the Kruger park, the entire saga is evocative of an unchanged India to my inexpert ears.
This is great news for India Inc. And even better news for consumers. Get ready for lower retail prices in the future.
What happened to the much awaited handshake? Did it not happen, or did it (under wraps?)
The relationship between the two brothers, while almost soap operatic, should not be allowed to dictate terms to the rest of India’s industrial sector. Let them compete like two companies normally would and let the best brother (and his shareholders) win. How ‘Brand Corp India’ benefits is beyond me since you now have two big companies promising to compete against everyone barring each other.
My favourite part of this whole saga has been a Star News headline on the Reliance AGM, which read : Bhaiyya, Tod Do Ye Deewar! Hopefully this re-union should lead to even better and more creative headlines