Speculation rife as Ambanis move from tangle to tango | business | Hindustan Times
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Speculation rife as Ambanis move from tangle to tango

business Updated: Dec 29, 2011 00:30 IST
HT Correspondents
HT Correspondents
Hindustan Times
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Billionaire Ambani brothers Mukesh and Anil may work with each others again, signalling a thaw in their frosty relations as the siblings, along with their families prayed, danced and broke bread together at a two-day family reunion to mark the 80th birth anniversary of their late father and family patriarch Dhirubhai Ambani, at Chorwad, a sleepy Gujarat village.

The two brothers, who had parted ways in 2005 in family deal brokered by mother Kokilaben, performed a puja on Wednesday morning before the family's religious guru Rameshbhai Oza formally inaugurated the memorial with a discourse peppered with lessons on the virtues of family unity.

Their sisters, Dipti Salgaonkar and Neena Kothari, were also present with their families along with Ramnikbhai Ambani, brother of Dhirubhai.

The Dhirubhai Ambani Memorial has come up at the place where the industrialist spent his childhood. A rented section of the bungalow, then called 'Mangarolwalo Delo', was where he lived.

The two brothers were seen talking intently on Tuesday, triggering feverish speculation that they were coming together.

"All family members were very emotional when the memorial was inaugurated. This is a very special place for the family because Dhirubhai had spent his early years here before he left for Aden (now Yemen)," RIL group president Parimal Nathvani told reporters.

Speculation is rife about a likely announcement of a deal through which Mukesh Ambani-controlled Reliance Industries Limited (RIL) will launch its broadband services using Anil Ambani-controlled Reliance Communication's (RCom) telecom tower infrastructure.

RIL has announced plans to enter insurance, financial services and broadband businesses after the two siblings ended a non-compete pact last year that barred them from entering each other's business.