Industrywallahs rejoice over rumours of the Ambani brothers reuniting
Industrywallahs rejoice over rumours of the Ambani brothers reuniting
Three years after the Ambani brothers separated, comes the whiff of a reunion. Mukesh (51) and Anil (49) gave their feud a break and broke bread together at Sea-Wind, the Ambani family residence, on mother Kokilaben's 75th birthday celebrations on Tuesday.
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Incidentally, it was in Sea-Wind that Kokilaben had hammered a truce deal between Mukesh and Anil in June 2005, after they decided to go their separate ways.
And now, rumours claim that a business settlement could be announced as early as Sunday. A spokesperson for the Reliance-Anil Dhirubhai Ambani Group, however, said it wasn't the group's policy to comment on "market rumours and speculation".
An oil and gas analyst with a foreign brokerage said that the settlement would be a clear "positive" for RIL, which can begin to monetize its gas reserves from the K G Basin. And it would benefit Anil's group as well, either through the supply of gas or cash compensation.
Investors happy
Investors and industrywallahs are rejoicing at the possible merger. "Considering the current economic and business climate, there is a real possibility of them coming together. This is definitely good news for the investors and the economy," said Som Mittal, chairman, Nasscom.
"I don't think they can merge their companies, it's not possible. But recession could be one reason that's bringing them together. A lot has happened over the last few months and the economy is down. This is definitely a good time for the Ambani brothers to come together," said M K Swaminath, ITPF chairman.
Investors had to suffer heavily because of the fight on a range of issues. "It's high time they got together and solved their problems," Taurus Mutual Fund managing director R K Gupta said.
"If this reunion materialises, one of India's biggest businesses houses could be rebuilt like in the time of veteran businessman Dhirubhai Ambani. This is an opportunity for members to support the coalition between these brothers. It could lead to several successful businesses in the future with immense growth opportunities. Such major mergers could have an impact on smaller businesses in a positive way," says Kiran Mazumdar Shaw, chairman and managing director, Biocon Limited.
I don't think they can merge their companies, it's not possible. But recession could be one reason that's bringing them together. A lot has happened over the last few months and the economy is down.
M K Swaminath, ITPF chairmann
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