Home > Business > Business Headline > Report
Mukesh camp says split inevitable
Joydeep Ray in Ahmedabad |
December 11, 2004 10:32 IST
Mukesh and Anil Ambani are heading for a formal split, according to sources close to the Mukesh Ambani camp.
The sources said Mukesh Ambani had been trying to settle the issues with his younger brother but a split "now looks inevitable". Legal options were also being explored should the need arise, they said.
"Mukesh has not indulged in a media war so far as he believes the problem with his brother is essentially in the private domain and he feels a public battle will harm the interests of the millions of Reliance Group shareholders," the sources said.
Also read:
The Reliance 'ownership issue'
The sources also said Mukesh was deeply hurt by the attempts made by a section in the group to malign him. "The time has perhaps come for him to go on the offensive," they said.
Contrary to media reports that Kokilaben, wife of the late, Dhirubhai Ambani, had been trying to mediate between her two sons, the fact was that "nothing is in her control now", the sources said.
Mukesh Ambani would be presiding over the first convocation of the Dhirubhai Ambani Institute of Information and Communication Technology at Gandhinagar on Saturday. There were speculation that Anil Ambani would also come but company sources later said they had no such information.