• Friday, March 29, 2024

Business

Ambani’s $20bn bet on TV, telecoms may rekindle brothers’ rivalry

Brothers Anil and Mukesh Ambani at a Vibrant Gujarat meet

By: Eastern Eye Staff

INDIA’S richest man, Mukesh Ambani, is muscling into the cable TV sector as part of a media and telecoms offensive that pits him against his once-estranged younger brother and threatens to shake up both industries. Ambani controls Reliance Industries, an oil and gas behemoth that is India’s most profitable conglomerate. He is also now targeting consumers, taking steps most recently into telecoms, where he has spent at least $18bn on 4G telecoms brand RJio, due to launch this year. Now, he plans to spend around $2bn over three years to capture TV sets, two people with direct knowledge of the…

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