The world's richest siblilngs, Mukesh Ambani (right) and Anil Ambani (left) settled a rift in May 2010 by ending noncompetition agreements that had been a source of bitter dispute.
The billionaire brothers from India said they were ending accords completed in January 2006 that barred them from competing across their business interests. Mukesh runs Reliance Industries, and Anil leads the Anil Dhirubhai Ambani Group. Reliance Industries has agreed not to enter the commercial generation of electricity from natural gas until March 31, 2022.
In the years since the brothers split their father’s company, their battle over the price of natural gas from Reliance Industries assets halted plans for a major north Indian power plant. A merger between Anil Ambani’s Reliance Communications and MTN Group of South Africa was scuttled after Mukesh Ambani said he had the first right to buy shares in his brother’s company.
Source: The New York Times