Friday, June 13, 2008

Ambani war erupts again; Anil's camp alleges sabotage by RIL

New Delhi, June 13 (PTI) War between the Ambani brothers on the family settlement erupted again tonight with younger sibling Anil's group charging Mukesh's Reliance Industries of attempting to sabotage its potential deal to acquire South African telecom giant MTN. A spokesperson Mukesh Ambani-led RIL declined to comment on the allegations that it was seeking to "disrupt creation of one of the world's most valuable telecom combinations." Alleging that RIL had sent a communication to MTN group making a false claim of alleged right of first refusal to buy controlling stake in Reliance Communications, ADAG spokesperson said, "RIL's claim is legally and factually untenable, baseless and misconceived.
" Asserting that RCOM's negotiations with MTN group for amalgamation were going well and that Mukesh group's "mala fide" attempt would not derail the process, the spokesperson said that ADAG has received this evening from MTN the communication made by RIL, which he dubbed as "an attempt borne out of mounting despair and frustration." PTI.

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