Rebirth of England.

Chapter 925 The whole story
In the Indian market, O2 Telecom and Reliance Industries Group formed a joint venture, O2 Reliance Telecom. With the backing of two powerful parent companies, this company, through extremely favorable preferential policies and fierce price wars, has become one of the largest telecommunications companies in India in terms of user base in just two years.

In fact, initially Reliance Industries, or Reliance Industries owned by Mukesh, did not have a telecom business.

This starts with the breakup of the Reliance Group.

Mukesh and Anil are the two older sons of Dhirubhai, the founder of Reliance Industries. After studying in the United States, they returned to India to join the family company.

In 2004, their father Dhirubhai died suddenly without leaving any will. As the eldest son, Mukesh took over the Reliance Group and became the chairman of the group, while his younger brother Anil became the general manager of the group and their mother became the honorary chairman.

After becoming the chairman of the group, Mukesh continued to explore new businesses, among which the oil industry gradually became an important industrial pillar of the group.

However, at this time, his younger brother Anil began to feel dissatisfied, thinking that he was "always doing things under his brother's shadow."

But Mukesh believed that his inheritance was a natural progression. On the one hand, he was the eldest son and had begun helping his father with company affairs before he completed his studies. On the other hand, Mukesh believed that he was proficient in chemical engineering (he majored in chemical engineering at Stanford University in the United States), and no one could handle the company's core business - oil - better than him.

Apart from this, Mukesh would exclude his brother from every important meeting.

Feeling sidelined, Anil kept writing to his brother, complaining that he had no real power - for this reason, he even began to secretly manipulate the board of directors.

The elder brother, who has insight into all affairs, announced in an email to all employees that he would take full charge of all affairs of the group and that "the issue of group ownership has been resolved."

The younger brother, who wanted to take the initiative, was unexpectedly outmaneuvered by his elder brother. Feeling angry, he subsequently submitted a 500-page report to the board of directors, listing his brother's mismanagement and false accounting.

Later, Anil even took his brother Mukesh to court.

The children of the richest man's family actually started a fight with each other, and the news spread quickly throughout the streets and alleys of India.

Their mutual accusations and insults on TV once became one of the most watched programs in India.

This incident also caused a shock to the Indian stock market. In desperation, it is said that the then Indian Finance Minister and Prime Minister personally stepped in to mediate the conflict between the two brothers.

It was their mother who finally helped the two brothers to reconcile.

It is said that the mother could not stand the infighting in the family any more. On her 70th birthday, she gave the two brothers a "death order": they must reach a reconciliation on the anniversary of their father's death!
After their father passed away, the two brothers respected their mother very much, so after several days of discussion, the two sides reached an agreement on the division of property.

The two brothers and their mother each received 30% of the assets, and the remaining 10% of the family assets were divided among their two sisters. After the division, Mukesh mainly obtained petrochemical assets - Reliance Industries Limited and Indian Petrochemical Corporation.

Anil took over assets in power, telecom and finance - three subsidiaries: Reliance Energy, Reliance Communications and Reliance Assets.

To pay respect to their deceased father, they divided the property but continued to run their respective businesses under the name Reliance.

Mukesh established the current Reliance Industries Group based on the two subsidiaries he acquired at that time, Reliance Industries Limited and Indian Petrochemical Corporation.

The two parties also reached an agreement that neither party would enter the other's business area within the next ten years.

After that, Mukesh's brother Anil's Reliance Communications developed into India's second largest telecom operator, and the company's market value continued to rise...

In 2008, Anil's personal wealth reached 420 billion US dollars, surpassing his brother Mukesh to become the richest man in Asia and ranked 7th in the world. It can be said that he was in great glory.

Of course, after the separation, his younger brother became more successful, so Mukesh was naturally unwilling to accept it. After the subprime mortgage crisis broke out, he not only prevented his younger brother's Reliance Communications from cooperating with MTN, the largest telecommunications group in South Africa...

In addition, it also entered the telecommunications industry indirectly through O2 Reliance Telecom, a joint venture with O2 Telecom, and entered the telecommunications industry before the ten-year period arrived.

At that time, India's mobile communications were almost all 2G networks, while O2 Reliance Telecom directly invested heavily in building 3G networks in India. And because of the strong capital strength of O2 Telecom and Reliance Industries, they were not only more advanced in mobile networks, but also directly launched a price war, pushing 3G networks to the market at extremely favorable prices, and even used O2 Telecom's usual trick - users signed long-term 3G network contracts and could even get Dopod Smart series smartphones "for free".

In this way, relying on strong capital, O2 Reliance Telecom burned 1.5 million rupees in the first year of operation alone. As a result, they gained more than 1 million users in half a year, posing a great threat to Reliance Communications owned by Mukesh's younger brother Anil.

But at that time, Reliance Communications fell into financial difficulties due to the subprime mortgage crisis, its stock price plummeted, and it was difficult to launch an effective counterattack against O2 Reliance Telecom.

It seems that the dispute between the two brothers that Barron saw today was not the first time it happened. From Anil's point of view, Mukesh violated the "agreement" between the two parties at the time and entered the telecommunications market to compete with himself within the stipulated ten-year period. Naturally, he was very unhappy.

"Reliance Communications' development has stagnated in the past two years, and there have been various problems. According to our investigation, Reliance Communications' debt has exceeded 50 billion US dollars. Their largest creditors are from three banks in China..."

By the time Barron returned to his villa, his personal assistant Talulah Riley had already obtained some information about Reliance Communications targeting Anil:
"The largest creditor of Reliance Communications is China Development Bank, which has provided Reliance Communications with approximately $2010 billion in loans since 20. In addition, the loans from two other China Development Banks were not sufficiently collateralized and were solely based on Anil's personal credit, which carries a high risk of default."

Well, Barron still had some memories of this matter in his previous life. After all, this matter was a big deal at the time. The banks in China later sued Anil in court. But even though the court ordered Anil to repay the loan, the other party still couldn't come up with the money, so they had to drag it out in the end...

(End of this chapter)