The big three claim the entry of Reliance Industries Ltd.’s fourth-generation network is threatening the economics of the industry. Mittal’s Bharti Airtel Ltd. recently lost its predatory pricing case against Mukesh Ambani’s Reliance Jio at the Competition Commission of India (CCI), which ruled that the richest Indian wasn’t necessarily being anti-competitive in giving away voice calls and data for free. Mittal and Birla— as well as Mukesh’s younger brother, Anil Ambani— don’t have the sovereign backing their debt. Mukesh may lend a helping hand, though not necessarily the Reliance Industries balance sheet, to keep his once-estranged younger sibling afloat. Mommy will wipe the billionaires’ tears, but with a small, wet handkerchief, which definitely won’t come out of Ambani’s pocket.

Source: Mint June 13, 2017 10:30 UTC