India's richest man put his brother out of business. Now he's bailing him out

The gesture by Mukesh Ambani to bail out his brother, Anil, is the latest twist in a sibling saga that has gripped India's telecommunications industry. A price war started by Mukesh in 2016 nearly put Anil out of business a year later. Last month, India's top court ordered Anil Ambani and his company, Reliance Communications, to pay a 5.5 billion rupees debt to Swedish mobile firm Ericsson by Wednesday or face three months in jail.

By Monday, the deadline was looming and the debt remained unpaid. Then Mukesh Ambani, who's estimated to be worth more than $50 billion, stepped in.Reliance Communications said in a statement late Monday that it had made the payment to Ericsson in full, with Anil Ambani thanking his brother and sister-in-law for their help.

भाई का भाई का मैटर , तेरी क्यों जली पड़ी हैं?

And made sure the whole world knows about it MukeshNitaSaveAnil

And, by default now, the Rafael deal goes to Mukesh bhai.

Misleading headlines, they divide their property/business mutually. Later Mukesh Ambani proved his skills and Anil Ambani failed. Request you not to create fake headlines for people’s attention.

Did Mukesh pay Anil on one-to-one, personal basis? If not, which entity paid whom/ which entity? Should persons be allowed to take credit of corporate decisions? Conversely, should corporates take decisions, not in accordance with sound business principles, but personal grounds.

Nice way to put it CNN!

That's the outside story though. We don't know if any irregularities were done within. If not, surely a touching story.

Mind blowing. game changer sympathy.

Brotherly

the other 1 billion need toilets and running water

Entire Governments, Countries & ALL SIBLINGS take Notes...

There's a CIS white Male to blame for this

Thats what familes do. It's who we are

Cool story probably fake though since it’s coming from CNN

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La source: Reuters - 🏆 2. / 97 Lire la suite »