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May 24, 2012

No charges have been filed against the Ambani family, which controls Reliance Group, despite the decision by a British authority to ban a former UBS banker for setting up an illegal vehicle for the Indian family.

No charges have been filed against the Ambani family, which controls Reliance Group, despite the decision by a British authority to ban a former UBS banker for setting up an illegal vehicle for the Indian family.

A statement from Reliance Group, headed by Anil Ambani, said the family members were “neither party to the proceedings, nor represented therein”.

January 24, 2012

Reconciliation between brothers Mukesh and Anil Ambani, who split the Indian family business founded by their father, is highly unlikely despite speculation that a truce is on the cards, according to a leading academic.

Reconciliation between brothers Mukesh and Anil Ambani, who split the Indian family business founded by their father, is highly unlikely despite speculation that a truce is on the cards, according to a leading academic.

“Business links” between Mukesh, who heads up Reliance Industries, and his younger brother Anil, who leads Reliance Group, will not be developed, reckons Kavil Ramachandran of the Indian School of Business.

June 23, 2011

India’s family-controlled Tata Group has become the country’s wealthiest company. The group, headed by Ratan Tata, said that its total market value is $98.7 billion, overtaking the combined value of fellow family-controlled Reliance groups. 

India’s family-controlled Tata Group has become the country’s wealthiest company. The group, headed by Ratan Tata, said that its total market value is $98.7 billion, overtaking the combined value of fellow family-controlled Reliance groups, worth a reported $81.6 billion.

The buoyant growth for the Tata Group comes following a rise in share price of its listed companies, while a string of controversies caused a slump in value of Reliance, controlled by the feuding Ambani brothers.

February 21, 2011

Reliance Communications, India’s second-largest telecommunications company, saw its shares fall by almost 50% over the last year, and further dropped by nearly 7% last week amid corruption accusations.

Shares of the family-controlled telecommunications group, headed by second-generation Anil Ambani, had been one of the worst performers in India’s stock exchange last year, and had slipped from Rs 800 (€13) to Rs 93 (€1.5).

This fall in value of the flagship company adds more worry for Ambani, who is in the middle of a federal investigation by India’s anti-corruption body. He has been accused of selling mobile phone licenses to companies at a low price, which allegedly cost the Indian government around $39 billion.

October 29, 2010

Reliance Power, the Indian energy company controlled by Anil Ambani, has ordered $10 billion worth of power generation equipment from Shanghai Electric Group.

Reliance Power, the Indian energy company controlled by Anil Ambani, has ordered $10 billion worth of power generation equipment from Shanghai Electric Group.
 
The deal is not only one of the biggest done by any family-controlled company this year, but it is the largest ever single business relationship between India and China, according to Ambani.
 
Shanghai Electric will supply 42 coal-based power generation units of 660MW each and will also supply spare parts, services and training in India.

September 6, 2010

An $11 billion deal to create the world's largest independent telecom infrastructure company has collapsed, the Ambani family, who was behind the deal, announced on Monday.

An $11 billion deal to create the world's largest independent telecom infrastructure company has collapsed, the Ambani family, who was behind the deal, announced on Monday.

The deal between Reliance Infratel, a subsidiary company of the Ambani family-controlled Reliance Communications, and GTL Infrastructure was announced in June and was set to become the largest deal involving a family company this year.

Reliance, headed by billionaire Anil Ambani (pictured), gave no reason for the failure of the deal, but said it was now speaking to other parties.

August 19, 2010

Reliance Broadcast Network, a subsidiary of the family-owned Reliance Anil Dhirubhai Group, announced 18 August it has signed a joint venture agreement with US-based CBS Studios International to provide a new set of TV channels in India.

Reliance Broadcast Network, a subsidiary of the family-owned Reliance Anil Dhirubhai Group, announced 18 August it has signed a joint venture agreement with US-based CBS Studios International to provide a new set of TV channels in India.

Reliance and CBS will both have a 50% equity share in the new company, called BIG CBS Networks, which will initially create three new English language TV channels. The deal is a first for both companies as they attempt to tap into India's growing TV market.

June 29, 2010

Anil Ambani’s Reliance Communications company has agreed an $11 billion deal to create the world’s largest independent telecom infrastructure company.

Anil Ambani's Reliance Communications company has agreed an $11 billion deal to create the world's largest independent telecom infrastructure company.

Reliance Infratel, a subsidiary of Reliance Communications, will merge its tower assets with GTL Infrastructure, part of Global group and the largest independent tower company in India.

As part of the deal, Reliance Infratel will retain its ownership of India's largest optic fibre network of over 200,000km and related assets, and gain free listed shares in the merged entity.

June 21, 2010

Reliance Broadcast Network, a subsidiary of the family-owned Reliance Anil Dhirubhai Ambani group, announced yesterday it has signed an initial agreement to form a joint venture with US-based CBS Studios International to launch a set of TV channels in India.

Reliance Broadcast Network, a subsidiary of the family-owned Reliance Anil Dhirubhai Ambani group, announced yesterday it has signed an initial agreement to form a joint venture with US-based CBS Studios International to launch a set of TV channels in India. 

This venture is a first for both companies as they attempt to access the growing TV market in the region. 

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