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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Two years on, Reliance calls off a deal for its O2C business and two out of three private telecoms players finally increase tariffs.
Editor's note: Furquan here. Gautam Adani is now the richest Indian, and not Mukesh Ambani. It's still an open race as these two billionaires bet on new sectors to drive growth in the coming years. Ambani is surely not betting on his oil-to-chemicals business, as reflected in the deal with Aramco being called off. Equally interesting was the tariff hike by telecom companies. It's good news, not just for them but for banks and investors too. Read on. Reliance-Aramco deal was long dead When Mukesh Ambani – on 24 June 2021 – made public his plans to go carbon neutral by 2035, the fate of the long overdue stake sale in the oil-to-chemical (O2C) business to Saudi Aramco was effectively sealed. Within months of the announcement, the deal was called off. Aramco had signed a non-binding letter of intent in August 2019 for a potential 20% stake in Reliance Industries’s O2C unit, valued at about $15 billion. The deal would have fetched Reliance somewhere around Rs 1 lakh crore (approximately $1.3 billion) – taking care of a sizable chunk of its then …
Two years on, Reliance calls off a deal for its O2C business and two out of three private telecoms players finally increase tariffs.
Editor's note: Furquan here. Gautam Adani is now the richest Indian, and not Mukesh Ambani. It's still an open race as these two billionaires bet on new sectors to drive growth in the coming years. Ambani is surely not betting on his oil-to-chemicals business, as reflected in the deal with Aramco being called off. Equally interesting was the tariff hike by telecom companies. It's good news, not just for them but for banks and investors too. Read on. Reliance-Aramco deal was long dead When Mukesh Ambani – on 24 June 2021 – made public his plans to go carbon neutral by 2035, the fate of the long overdue stake sale in the oil-to-chemical (O2C) business to Saudi Aramco was effectively sealed. Within months of the announcement, the deal was called off. Aramco had signed a non-binding letter of intent in August 2019 for a potential 20% stake in Reliance Industries’s O2C unit, valued at about $15 billion. The deal would have fetched Reliance somewhere around Rs 1 lakh crore (approximately $1.3 billion) – taking care of a sizable chunk of its then …
Instead of going after scale like Jio, the Sunil Bharti Mittal-led telecom giant is chasing a smaller but higher-quality customer base to grow its home broadband segment. Will the bet pay off?
The popular super app startup is seeing widening losses, Dubai’s financial zone wants more wealth and Aramco’s big quarter.
While the Rs 9,000 crore promoter investment in Q1 brings a measure of reassurance, investors will still have to wait for Jio and retail to work through their challenges.
Instead of going after scale like Jio, the Sunil Bharti Mittal-led telecom giant is chasing a smaller but higher-quality customer base to grow its home broadband segment. Will the bet pay off?
The popular super app startup is seeing widening losses, Dubai’s financial zone wants more wealth and Aramco’s big quarter.
While the Rs 9,000 crore promoter investment in Q1 brings a measure of reassurance, investors will still have to wait for Jio and retail to work through their challenges.
