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India: Anil Ambani’s elder brother pays Ericsson dues

 |  March 18, 2019

Reliance Communications chairman Anil Ambani confirmed that the telco has repaid Swedish telecom gear maker Ericsson its dues and thanked his brother Mukesh Ambaniand his sister-in-law Nita Ambani for the “timely support”.

Monday’s move, which allows Anil Ambani to escape jail on a contempt of court charge, is the latest twist in the tempestuous relationship between two of India’s best-known businessmen, whose fortunes have dramatically diverged.

In a statement, Anil Ambani expressed gratitude to his elder brother “My sincere and heartfelt thanks to my respected elder brother, Mukesh, and Nita, for standing by me during these trying times, and demonstrating the importance of staying true to our strong family values by extending this timely support. I and my family are grateful we have moved beyond the past, and are deeply touched with this gesture,” said a company spokesperson in a statement sent to the media.

Full Content: Financial Times

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