A PYMNTS Company

India: Anil Ambani’s elder brother pays Ericsson dues

By  |  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”.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    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

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.