CNBC-TV18's Siddharth Zarabi reports that the Rs 12,000 crore deal will allow Mukesh Ambani to ise towers owned by younger sibling Anil
Reliance Industries Ltd's telecom arm will lease up to 45,000 mobile masts from Reliance Communications Ltd in a deal valued at more than Rs 12,000 crore over the lifetime of the contract, the two groups announced today.
The agreement between telecom firms of Ambani brothers will help RIL launch 4G services by December, and the deal may be extended to spectrum sharing once new licence norms are finalised, investment banking major Goldman Sachs has said.
Mritunjay Kapur, MD, Protiviti says, in an interview to CNBC-TV18, that the joint venture between the Ambani brothers will result in the creation of the largest spectrum in India. The joint venture will usher in a new era for the telecom industry on greater access across markets and increased services on offer, he adds.
The Ambani brothers today rejected allegations by Arvind Kejriwal that they had parked blackmoney in HSBC Bank in Geneva and denied that they had any accounts there.
In 2010 - the Ambani brothers publicly buried the hatchet and ended their bitter dispute. And the entire ambani clan is now ending 2011 with a very public celebration of the late Dhirubhai Ambani's 80th birth anniversary at Chorwad, Gujarat.
The Delhi High Court today stayed a CIC order imposing Rs 5000 fine on the CBI for failing to give reasons for not naming Ambani brothers in a case related to alleged masking of international calls as local ones by erstwhile Reliance Infocomm.