Reliance Energy to approach RIL on its future prospects and reposed full faith in the present management led by Anil Ambani.
After being at loggerheads for 8 years, Ambani brothers have sealed a Rs 1,200-crore (Rs 12-billion) deal wherein Mukesh will use his younger sibling's optic fibre network for launch of his telecom venture.
According to sources, Reliance Infratel would offer 10 per cent equity to the public valued at Rs 5,000-6,000 crore (Rs 50-60 billion). Reliance Infratel is the telecom infrastructure division of Reliance Communications Ltd.
The discussions are 'indicative and non-binding' in nature.
Chairman of Reliance Industries Ltd Mukesh Ambani and his younger brother Anil today met Home Minister P Chidambaram separately at his North Block office within a span of 50 minutes.
In a move that could hot up the telecom war, Anil Ambani owned Reliance Infocomm has accused Videsh Sanchar Nigam Ltd of killing the competition in bandwidth market by creating both price and non-price barriers.\n\n
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