That growth has come at the expense of the conglomerate’s energy-related arms, which have been the bedrock of Ambani’s business for more than a decade. Ambani launched the telecommunications business in 2016, spending $36 billion to roll out a 4G wireless network across India and luring millions of subscribers with free or cut-price data services. Ambani, whose father Dhirubhai founded Reliance in 1959, agreed to split the businesses with his brother Anil three years after their father died without leaving a will. Mukesh got control of the flagship oil refining and petrochemicals arms.Anil got Reliance’s newer services businesses in the split, including telecommunications. Reliance, Amazon and Walmart’s Bangalore-based Flipkart Online Services Pvt.

Source: Economic Times April 19, 2019 08:20 UTC