Friday, December 26, 2008

>Will Ambani Brother's patch up?

In the midst of a meltdown, the most intense sibling rivalry in corporate India — the Ambanis — is heading for a rapproachment, says SHANTANU GUHA RAY
LAST WEEK, brokers circles at Asia’s oldest bourse, the Bombay Stock Exchange (BSE), were awash with the rumour that a patch-up between the world’s richest brothers, warring since an infamous split in 2005 and a settlement a year later, might just be possible.

That the good news was merely a rumour was evident from the fact that neither brother — nor anyone from their respective camps — was willing to confirm its veracity. But the very lack of a vociferous denial did help increase the price of their stocks by almost 14 percent.
However, the possibility that there was indeed some fire beneath the smoke was borne out by the fact that this was the third such incident within a fortnight. In the first week of December, the Reliance (RIL) scrip rose to Rs 1258.90, ostensibly because of market talk that it was within reach of a gas supply deal with Reliance Natural Resources Limited (RNRL), owned by sibling and rival Anil Ambani. The value of the RNRL share rose by as much as 26 percent, its sharpest daily rise in 18 months. The two firms are locked in a dispute over whether and at what price RIL is required to sell gas to RNRL.
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Will Ambani Brother's patch up?



Anonymous said... would be so much good and would be a definite silver lining to the all gloom and doom around...

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