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Indian brothers' feud over MTN talks escalates: source
0 Comments | AFP, June, 2008
NEW DELHI (AFP) — Indian billionaire Anil Ambani on Saturday threatened legal action against his brother if he tries to block a big telecom merger deal, a source said, as the battle in India's richest family heated up.
The warning came after Anil's older brother Mukesh Ambani, head of Reliance Industries Ltd (RIL), said that he had first right of refusal to buy his estranged sibling's controlling stake in Reliance Communications.
The claim could threaten the 70-billion-dollar merger talks between Reliance Communications and South African telecom giant MTN, Indian media quoted lawyers as saying.
"If RIL chooses to take any legal action, the same will be vigorously defended by Reliance Communications, and Reliance Communications will claim costs and damages...
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