The world’s richest brothers, Mukesh and Anil Ambani, have joined forces for the first time in nearly a decade since their fathers death, seeing them join separate telecoms businesses to share 4G speeds. The deal is said to be worth $200m and will be focused on the India telecoms market.
The Ambani brothers are both billionaires through their separate businesses, both building on the substantial wealth left to them when their father, Dhirubhai died in 2002. However, their father hadn’t left a will, so the brothers were left to battle it out with one another to see who got what from the Reliance empire.
Ever since, the brothers have feuded with one another, with an agreement restricting one another from entering each others markets. However, in 2010 that agreement was abolished, opening up speculation that relations between the brothers had worsened further.
Therefore, it is somewhat surprising news that the brothers have now come together in a deal which not only see’s them in the same industry, but sharing resources with each other to grow their own respective businesses. It also highlights just how important the companies value 4G and the opportunities it can present.