"RIL would partner world leaders for Entering new business in the country" Says Mukesh Ambani

Ambani Brothers Friday came in to direct competition a year after scrapping the Non compete agreement between them.Mukesh Ambani groups is entering in to insurance business.Younger Brother Anil Ambani's Reliance Insurance companies ( Both General and Life ) are also in the top position in Insurance Sector.

　

Both the companies already compete in Sunil Mittal's Bharati group in which Mukesh group has acquired a majority stakes. As per a deal announced Friday, "Bharti group would exit from its joint ventures with AXA ventures sell its stakes to the RIL group and would now be run in partnership between RIL and the French financial services major AXA group".

Business Leader

An year ago,Both the brothers has decided to bury the differences and involved scrapping of a nearly five year non compete agreement between the groups.Ther after Mukesh Ambani started planning to enter in to financial business and announced a joint venture with global private equity firm also.

Before their separation, Anil Ambani was considered an expert on financial matters and Mukesh Ambani has a great reputation of rolling out businesses of unheard of size.

However, Mukesh Ambani was silent on specific details for financial services business at the AGM. The billionaire industrialist, still, mentioned that RIL would partner world leaders for entering new businesses in the country.