Can Mukesh Ambani take on Tencent, Huawei and Xiaomi?
4 years, 5 months ago

Can Mukesh Ambani take on Tencent, Huawei and Xiaomi?

Live Mint  

With the $28 billion he’s raised working from home, India’s richest man wants to step into the breach created by the technology cold war between America and China. Ambani’s four-year-old Jio Platforms Ltd. has indigenously built its own 5G technology, the tycoon announced at Wednesday’s annual general meeting of his flagship Reliance Industries Ltd. After testing it on the 400 million 4G customers he has in India, he’ll offer it to other markets. The news18.com website, also controlled by Ambani, called the technology a “Huawei-killer,” and noted that U.S. Secretary of State Mike Pompeo had praised Jio as a clean network for not using the Chinese firm’s gear. The 300,000 Reliance investors who watched the AGM on JioMeet, Ambani’s cloud-conferencing clone of Zoom Video Communications Inc., probably found the sharp pivot away from hydrocarbons a bit too much to take. India’s competitive landscape would have been broadened had Google’s Pichai bought a stake in Jio’s telecom competitor Vodafone Idea Ltd., a plan it was considering, according to a Financial Times report in May.

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History of this topic

Mukesh Ambani's Reliance set to acquire over 50% stake in Disney India, says report
10 months, 3 weeks ago

Mukesh Ambani's Reliance set to acquire over 50% stake in Disney India, says report

Hindustan Times  

Reliance Industries Limited, led by billionaire Mukesh Ambani, is set to acquire over 50 percent stake in Disney India in preparation of the mega-merger between the two media entities in a few months, reported Reuters. Ambani's Reliance is expected to pick up around 51-54 percent stake in the company, valuing the US giant's domestic business at $3.5 billion. The deal …

Mukesh Ambani rejoins $100 billion club as Reliance stock surges record 2.6%
11 months, 1 week ago

Mukesh Ambani rejoins $100 billion club as Reliance stock surges record 2.6%

Live Mint  

Mukesh Ambani is once again a centibillionaire. The richest person in India — and in Asia — saw his wealth climb $2.8 billion to $101.8 billion Thursday, as shares of his flagship, Reliance Industries Ltd., rose 2.6% to close at a record high. The listing last year of Reliance’s financial services unit, Jio Financial Services Ltd., helped to broaden the …

RIL AGM 2023: Mukesh Ambani lists 5 goals that will fulfil dreams of 1.4 billion Indians
1 year, 3 months ago

RIL AGM 2023: Mukesh Ambani lists 5 goals that will fulfil dreams of 1.4 billion Indians

Firstpost  

At the 46th RIL AGM, Mukesh Ambani called the new Reliance ‘a new-age technology company. Today, we are a producer, deployer and democratiser of technology’ Mukesh Ambani, Chairman and Managing Director of Reliance Industries, on Monday listed out five goals that will fulfil the dreams of all 1.4 billion Indian. Speaking about his futuristic plans at the Reliance Industries Limited’s …

Reliance to invest ₹75,000 crore in Uttar Pradesh in 4 years: Mukesh Ambani
1 year, 10 months ago

Reliance to invest ₹75,000 crore in Uttar Pradesh in 4 years: Mukesh Ambani

The Hindu  

Reliance Industries Ltd will invest ₹75,000 crore in rolling out 5G mobile telephone services, expanding retail network and setting up renewable energy capacity in Uttar Pradesh in the next four years, its chairman Mukesh Ambani said on February 10. Speaking at the Uttar Pradesh Global Investors Summit 2023 here, Mr. Ambani said his group will set up 10 GigaWatts of …

After telecom and retail, what is Mukesh Ambani’s next big plan?
1 year, 11 months ago

After telecom and retail, what is Mukesh Ambani’s next big plan?

Live Mint  

Mukesh Ambani, the billionaire chairman of Reliance Industries Ltd., will be focusing his attention on the Indian conglomerate’s pivot to green energy, according to people familiar with the matter, after putting his children in charge of other businesses. Asia’s second-richest man is known for his single-minded focus on key pursuits: In the 1990s he lived for months in shipping containers …

With Mukesh Ambani as chairman for 20 yrs, Reliance....
1 year, 11 months ago

With Mukesh Ambani as chairman for 20 yrs, Reliance....

Hindustan Times  

Reliance Industries Chairman and Managing Director Mukesh Ambani has completed two decades at the helm of Reliance Industries in 2022. Among the several achievements, RIL's market capitalisation grew at an annualised rate of 20.6 per cent in the last 20 years from ₹41,989 crore in March 2002 to ₹17,81,841 crore in March 2022. Reliance's total assets grew at an annualised …

Mukesh Ambani prepares to hand a $220 billion empire to his children
2 years, 3 months ago

Mukesh Ambani prepares to hand a $220 billion empire to his children

CNN  

New Delhi CNN Business — Indian billionaire Mukesh Ambani has laid out plans to hand his sprawling business empire to his children, while insisting he has no intention of retiring any time soon. Ambani, 65, set out his succession plan on Monday, telling shareholders in his Reliance Industries conglomerate that his three children are “first among equals” and are being …

With $208 billion in fortunes, Ambani and Adani start to face off
2 years, 4 months ago

With $208 billion in fortunes, Ambani and Adani start to face off

Hindustan Times  

In June, Indian billionaire Mukesh Ambani and his aides ran into an unexpected dilemma when debating where to train the dealmaking lens of his empire next. Ambani’s Reliance Industries Ltd. was contemplating buying a foreign telecommunications giant, when word reached them that Gautam Adani -- who had overtaken Ambani as Asia’s richest man a few months earlier -- was planning …

RIL AGM: ’Jio is not just working to make India 2G-mukt, but also 5G-yukt’, says Mukesh Ambani
3 years, 6 months ago

RIL AGM: ’Jio is not just working to make India 2G-mukt, but also 5G-yukt’, says Mukesh Ambani

Live Mint  

Reliance Industries' Chairman Mukesh Ambani made major announcements at the company's 44th Annual General Meeting today. I am confident that Reliance Retail is on a hyper growth trajectory to grow at least 3x in the next 3-5 years: Mukesh Ambani -Talking about Reliance Retail, Ambani says that the company added 1,500 new stores, which is amongst the largest retail expansion …

No option for businesses but to go green: Mukesh Ambani
3 years, 6 months ago

No option for businesses but to go green: Mukesh Ambani

India TV News  

Asia's richest man Mukesh Ambani on Monday said there is no option for businesses but to go green and every unit of Reliance Industries would have to pivot as the conglomerate moves towards net-zero. Every unit making up the oil-to-telecom conglomerate Reliance would have to pivot as the conglomerate moves toward net-zero, he said. "We at Reliance have adopted this …

Indian billionaire Mukesh Ambani may hold the winning ticket in tech and Silicon Valley knows it
3 years, 11 months ago

Indian billionaire Mukesh Ambani may hold the winning ticket in tech and Silicon Valley knows it

CNN  

Mukesh Ambani has spent years trying to turn hisinherited oil businessinto a tech empire. He’s doing that with JioMart, an initiative announced in 2019 to bring online thousands of India’s mom-and-pop stores known as “kiranas.” And Reliance Retail recently acquired one of its biggest Indian rivals, Future Retail, for $3.3 billion — a deal that has kicked off a protracted …

Reliance shares gain nearly 2% as Mukesh Ambani hints rolling out 5G services
4 years ago

Reliance shares gain nearly 2% as Mukesh Ambani hints rolling out 5G services

India TV News  

Shares of Reliance Industries Limited on Tuesday rose nearly 2 per cent after Mukesh Ambani hinted at rolling out 5G telecom services in the second half of 2021. Billionaire Mukesh Ambani on Tuesday hinted at rolling out 5G telecom services in the second half of 2021 and said policy steps are needed to accelerate the early rollout of ultra-high-speed 5G …

Reliance CEO Mukesh Ambani loses billions as oil slump hits shares
4 years, 1 month ago

Reliance CEO Mukesh Ambani loses billions as oil slump hits shares

CNN  

Hong Kong CNN Business — Mukesh Ambani has long been trying to reduce his company’s reliance on oil. Shares of Reliance Industries dropped in Mumbai after the company posted disappointing earnings late Friday, mainly due to a tough quarter for its giant oil refinery business. Pretax profit fell 30% over the three months through September compared to a year ago, …

With Jio, Google and Facebook, Mukesh Ambani plots a tech future
4 years, 5 months ago

With Jio, Google and Facebook, Mukesh Ambani plots a tech future

Live Mint  

After securing more than $20 billion in investment from the likes of Google and Facebook Inc., Indian billionaire Mukesh Ambani laid out a vision for his digital venture as he seeks to build a homegrown technology titan that could rival global giants. Outlining plans for Jio Platforms Ltd. at the annual shareholders meeting of his conglomerate Reliance Industries Ltd. on …

Mukesh Ambani nears deal to buy stake in some companies of Future Group
4 years, 6 months ago

Mukesh Ambani nears deal to buy stake in some companies of Future Group

Live Mint  

Reliance Industries Ltd. is closing in on a deal that would see it acquire stakes in some units of Future Group, people familiar with the matter said, a move that would bolster the e-commerce ambitions of the conglomerate and its billionaire Chairman Mukesh Ambani. Though unit Future Retail Ltd. has attracted suitors, including Amazon, Reliance’s offer to buy into the …

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