Ambani bails out brother


INDUSTRIALIST MUKESH TO BUY TELECOMS ARM FROM ANIL INDIAN businessman Anil Ambani’s company has agreed to sell its wireless assets to the tele­coms arm of elder brother and billionaire Muke­sh Ambani’s oil conglomerate Reliance Indus­tries Ltd, both companies said last week.   When the brothers split following the death of their father, Dhirubhai, the elder Ambani walked away with the oil and gas business, while his younger brother held on to telecoms and power.   Announced last month, the sale comprises of all spectrum, tower, fiber optic and other telecom infra­structure assets of Reliance Communications and is subject to government and other regulatory approvals.   The deal marks…

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