In the first stage of a “comprehensive framework of intended business cooperation”, Mukesh Ambani’s Reliance Jio Infocomm and Anil’s Reliance Communications agree on an inter-city optic fibre sharing deal. R-Jio will pay Rs.1,200 crore to use R-Com’s network spread over 1.2 lakh km almost in perpetuity
In stage II, the two cos will expand the agreement across intra-city ops. R-Com has network in 100 cities
Finally, R-Jio and R-Com to expand arrangement to tower sharing. R-Com owns about 45,000 towers
R-Com to have reciprocal access to fibre infrastructure built by Jio in future
Close on the heels of Rs.1,200 crore deal between Mukesh and Anil Ambani, the elder brother Mukesh-controlled Reliance Industries Ltd (RIL) has invested Rs.800 crore in various mutual funds schemes of Anil-controlled Reliance Mutual fund.
RIL has made these investments in the Fixed Maturity Plans (FMPs) and other debt schemes of Reliance Mutual Fund. Since the division of the group in 2005, RIL was not investing in Reliance Mutual fund, despite the fact that RIL is one of the biggest investors of its surplus funds in mutual funds.
At the end of 2011-12, 2012, RIL had invested over Rs.8,700 crore in various mutual fund schemes, including FMPs, but they did not include any scheme of Reliance MF.
JUNE 2005: Reliance empire splits. Mukesh gets flagship Reliance Industries, Anil gets power, telecom & financial services
2006-2010: Brothers fight over gas supply, SC verdict favours Mukesh
MAY 2010: Non-compete clauses scrapped, allowing them to enter each other’s business territories
APRIL 2013: Announce tie-up that will help Mukesh launch 4G services
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