Word: ambani
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...INDIA Ambani RELIANCE GROUP Nearly two years ago, the sons of the legendary founder took control of the textile, petrochemical, finance and telecommunications conglomerate. They've kept the company growing 2003 Revenues: $16.8 billion...
...drawn potent players in the form of cell-phone subsidiaries backed by foreign heavyweights such as Hong Kong's Hutchison Whampoa and AT&T Wireless. Other rivals are piling in: a government phone company, Bharat Sanchar Nigam, is expanding its mobile network. And in December, India's powerful Ambani family, which controls Reliance Industries, India's largest private sector company, is launching a discount national cellular service. Industry experts say the market is becoming too crowded given India's relatively poor population?and Mittal is fighting on too many fronts. "He's chewed way more than he can eat," says...
...Perhaps the biggest threat will come in December, when the Ambani family's Reliance Infocomm will launch a mobile phone service nationwide aimed at customers who need to make calls only in a limited area, such as one city. Based on regulations that allow fixed-line providers to use wireless technology to extend their networks without laying cable, Reliance is expected to be able to undercut the fees charged by incumbents. "We are very proud that wherever Reliance enters, we have dropped prices," says company chairman Mukesh Ambani...
...FUERSTENBERG, 79, a member of one of Germany's oldest noble families; in southwestern Germany. Fuerstenberg helped manage family businesses, including a brewery founded in 1470. Known for his passion for art and rare books, he sold a portion of his collection in 1992 for $24.5 million. DIED. DHIRUBHAI AMBANI, 69, rags-to-riches founder of India's largest business empire Reliance Industries; in Bombay. Ambani amassed a multi-billion-dollar fortune first through textiles, then petrochemicals and oil refining, now Reliance's core business. SENTENCED. MOHAMMAD KHORDADIAN, 46, Iranian-born American dancer, to a 10-year suspended jail term...
...BUSINESS Obituary: Dhirubhai Ambani...