Pratish's Feed
Jun 21, 2010

Reliance unveils big push into India power sector

MUMBAI, June 18 (Reuters) – Mukesh Ambani’s Reliance
Industries (RELI.BO: Quote, Profile, Research), recently freed from a pact that banned it
from competing with his brother’s firms, unveiled a push into
the power sector that gave little detail at a hotly anticipated
shareholder meeting.

Ambani, 53, has been avidly pursuing entry into markets
that his younger brother, Anil, 51, is in, ever since the
long-estranged siblings ended their agreement last month not to
compete directly with each other.

Jun 18, 2010

Reliance unveils big push into power sector

MUMBAI (Reuters) – Mukesh Ambani’s Reliance Industries(RELI.BO: Quote, Profile, Research) , unfettered by a pact that banned it from competing with his brother’s firms, announced an aggressive push into the power business but was short on specifics during a hotly anticipated shareholders meeting.

The elder Ambani has unveiled deals since the long-estranged brothers called a truce last month in their feud, and said the end of the non-competition agreement opens up possibilities in a power sector that he said provides “unbounded opportunity.”

Jun 14, 2010

Reliance Ind makes bold bet with foray in telecoms

NEW DELHI/MUMBAI (Reuters) – Reliance Industries’ re-entry into India’s telecom sector will help the conglomerate tap opportunities in the untapped wireless data market as it aims to replicate growth of the mobile phone sector.

On Friday, the energy major, controlled by Mukesh Ambani, the country’s richest man, unexpectedly agreed to buy Infotel Broadband, the only company to win a nationwide license in India’s auction for wireless broadband.

Jun 14, 2010

Reliance makes bold bet with foray in India telecom

NEW DELHI/MUMBAI, June 14 (Reuters) – Reliance Industries’
(RELI.BO: Quote, Profile, Research) re-entry into India’s telecom sector will help the
conglomerate tap opportunities in the untapped wireless data
market as it aims to replicate growth of the mobile phone
sector.

On Friday, the energy major, controlled by Mukesh Ambani,
the country’s richest man, unexpectedly agreed to buy Infotel
Broadband, the only company to win a nationwide license in
India’s auction for wireless broadband. [ID:nSGE65A071]

Jun 14, 2010

India’s richest man back in telecoms with Infotel

NEW DELHI/MUMBAI, June 11 (Reuters) – Billionaire Mukesh
Ambani’s Reliance Industries (RELI.BO: Quote, Profile, Research) made a dramatic return
to telecoms, agreeing to buy Infotel Broadband, which was the
only company to win a nationwide licence in India’s broadband
wireless spectrum auction.

Infotel’s offer of $2.75 billion for the license topped
forecasts while U.S. chipmaker Qualcomm (QCOM.O: Quote, Profile, Research) and India’s
biggest mobile operator, Bharti Airtel (BRTI.BO: Quote, Profile, Research), also won
spectrum in parts of India in an auction that saw some of the
biggest players in Indian telecoms emerge empty-handed.

Jun 12, 2010

Mukesh Ambani back in telecoms with Infotel

NEW DELHI/MUMBAI (Reuters) – Billionaire Mukesh Ambani’s Reliance Industries made a dramatic return to telecoms, agreeing to buy Infotel Broadband, which was the only company to win a nationwide licence in India’s broadband wireless spectrum auction.

Infotel’s offer of $2.75 billion for the license topped forecasts while U.S. chipmaker Qualcomm and India’s biggest mobile operator, Bharti Airtel, also won spectrum in parts of India in an auction that saw some of the biggest players in Indian telecoms emerge empty-handed.

Jun 11, 2010

Reliance Ind to buy Infotel for $1 bln

MUMBAI (Reuters) – Reliance Industries, controlled by billionaire Mukesh Ambani, will buy Infotel Broadband Services for $1 billion, marking the re-entry of India’s largest-listed firm into the booming telecoms market.

Unlisted Infotel Broadband Services is the only firm to win broadband spectrum in all 22 zones in India in an auction that ended on Friday. The firm is paying 128.48 billion rupees ($2.7 billion) for the spectrum, the government said.

Jun 11, 2010

India’s Reliance Ind to buy Infotel for $1 billion

MUMBAI (Reuters) – Reliance Industries (RELI.BO: Quote, Profile, Research), controlled by billionaire Mukesh Ambani, will buy Infotel Broadband Services for $1 billion, marking the re-entry of India’s largest-listed firm into the booming telecoms market.

Unlisted Infotel Broadband Services is the only firm to win broadband spectrum in all 22 zones in India in an auction that ended on Friday. The firm is paying 128.48 billion rupees ($2.7 billion) for the spectrum, the government said.

Jun 11, 2010

Reliance Industries to buy Infotel for $1 bln

MUMBAI (Reuters) – Reliance Industries (RELI.BO: Quote, Profile, Research), controlled by billionaire Mukesh Ambani, will buy Infotel Broadband Services for $1 billion, marking the re-entry of India’s largest-listed firm into the booming telecoms market.

Unlisted Infotel Broadband Services is the only firm to win broadband spectrum in all 22 zones in India in an auction that ended on Friday. The firm is paying 128.48 billion rupees ($2.7 billion) for the spectrum, the government said.

Jun 11, 2010

Reliance Ind in talks for U.S. shale assets-sources

MUMBAI, June 10 (Reuters) – Indian energy major Reliance
Industries (RELI.BO: Quote, Profile, Research) is in talks to buy a stake in the shale
gas assets of U.S.-based Pioneer Natural Resources (PXD.N: Quote, Profile, Research), two
sources familiar with the matter said on Thursday.

Reliance, India’s largest listed conglomerate controlled by
billionaire Mukesh Ambani, is also talking to several other
firms for buying shale gas assets, the sources said. They
declined to be named as they were not authorised to speak to
the media.