Well, Reliance Communications has decided to retaliate, if Mukesh – Ambani led Reliance happen to take legal action on it’s deal with MTN. Reliance Communications has informed Reliance that it’s claim on first right of refusal is legally untenable. If it takes legal action, then the company will claim costs and damages from Reliance. ADAG’S (Anil Dhirubhai Ambani Group) has stated that RIL’S claim has derived out of frustration at Reliance ADAG’S (Anil Dhirubhai Ambani Group’s), continuing successes.
However, if you check, you will notice that Reliance Power has fallen from 450 (275) to 180 and RNRL has fallen from 180 to 86. Reliance Communication’s falls from 840 to 540. This shows that ADAG’s (Anil Dhirubhai Ambani Group) is bad and also Reliance Communications is equally bad like RNRL, REL POWER and others. The war between Ambani brothers escalated further on Saturday 14th June 2008. Mukesh Ambani’s side said that Anil’s camp should not create confusion between the family settlement and agreements signed between them.
In my opinion, Anil is moving with a supersonic speed and has big plans ahead. Reliance Communications is a fundamentally sound company and it may go up with or without the deal. Set backs can be seen in Reliance Power IPO but in long run the Company will surely out perform incoming time.
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