Ambani brothers truce seen unlikely

Anil Ambani's call to end a bitter feud with Mukesh over the split of the Rel biz empire is unlikely to lead to a quick resolution.

Billionaire Anil Ambani’s call to end a bitter feud with his elder brother Mukesh over the split of the Reliance business empire is unlikely to lead to a quick resolution before a hearing in a feud over gas supplies.

Shares in firms controlled by the brothers rose on Monday,on hopes for a resolution after Anil Ambani on Sunday made an impassioned call to end the impasse,but analysts said the gains may be short lived.

“The rise is just a knee-jerk reaction to Anil’s comments yesterday,” said Alex Mathews,head of research at Geojit BNP-Paribas Financial Services.

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The Reliance empire,which spans energy,telecommunications and financial services,was split between the brothers in 2005 following the death of their father,Dhirubhai Ambani,a legendary Indian business tycoon who built Reliance from scratch.

The siblings have since been involved in several disputes,the latest over a deal for Mukesh Ambani’s Reliance Industries to sell gas to Anil Ambani’s Reliance Natural Resources at below-market rates as agreed in a 2005 family settlement brokered by their mother,Kokilaben.

outside the RJD party office in Patna on Friday. Partners of the alliance filed nomination papers for all 121 seats going to polls in the first phase – the total strength of the Bihar House is 243 – while talks continued to end the deadlock over seats.

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