Profit

Ambani bros indulge in legal shadow-boxing

PUBLISHED ON: July 7, 2008 | Duration: 1 min, 20 sec

  
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The spat between the warring Ambani brothers over the South African telecom giant MTN turned into a game of legal shadow-boxing on Monday with offers and counter offers for discussions being spurned on both sides. Wary of falling into a legal 'trap', Anil Ambani's RCcom rebuffed an attempt by elder brother Mukesh-led RIL to open talks for conciliation on Monday over the issue of right of first refusal in RCOM's efforts to amalgamate with MTN, said to be worth over $50 billion.
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