Azim Premji, for years India's richest resident, was unseated by Mukesh and Anil Ambani.
One pal is billionaire Anil Ambani who was an early investor in Swan Telecom, reportedly with a 10% stake.
The two bidders in the fray are Hindustan Construction and Reliance Infrastructure, part of billionaire Anil Ambani's Reliance ADA Group.
Five months after co-hosting their mother's 75th birthday bash, billionaire brothers Mukesh and Anil Ambani have resumed their bitter battle.
Spielberg met Bollywood star Amitabh Bachchan and other Indian film personalities at a party hosted by businessman Anil Ambani on Monday night.
Anil Ambani, the Chairman of Reliance Communications (and one of Forbes top 100 billionaires), was hauled in for questioning by the Central Bureau of Investigation.
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In July a bid by Reliance Communications, run by Anil Ambani, to buy a South African mobile-phone company was thwarted by Mukesh Ambani, the boss of Reliance Industries.
Anil Ambani has substantial interests in power, infrastructure and finance.
Reliance Power has yet to build its first power plant, and Anil Ambani's ambitious plans are caught in a power struggle with his older brother Mukesh over a gas supply agreement.
Reliance, controlled by billionaire Anil Ambani, has been unable to get a massive gas-fired plant off the ground in northern India despite a decade of effort, because of land issues and fuel-shortage issues.
The Ruia brothers, insisting they had the first right to buy Hutchison Telecom's stake--a claim it disputes--were pitted against much better known foes, Vodafone and Reliance Communications, which is controlled by Indian billionaire Anil Ambani.
In 2002, the company launched a cellular carrier, but a feud between Mr. Ambani and his younger brother, Anil Ambani, following the death of their father that year ultimately forced them to split the company's assets.
Analysts said the valuation was a big boost for the Anil Ambani-controlled group as it has been looking for investors to buy a stake its other businesses in a bid to help pay for its debt.
On June 17th the Wall Street Journal reported that one of India's biggest conglomerates, Anil Ambani's Reliance group, was in talks to form a film-making partnership with Steven Spielberg's DreamWorks studio, owned by Viacom, a media giant.
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The chairman of Reliance ADAG (Anil Dhirubhai Ambani Group) made the announcement during the Global Investors Summit 2010 at Khajuraho in the central Indian state of Madhya Pradesh.
Brothers Anil and Mukesh Ambani of Reliance Industries jumped to 65th this year from 123rd in 2003.
The most celebrated of rivalries in the Indian corporate world in recent times, was that between the Ambani brothers Mukesh and Anil.
Run by Mukesh Ambani's brother Anil, the telecoms company has faced a slump in its share prices as a result of a high profile scandal involving licences for second generation phones.
Ambani's U.S.-educated sons, Anil and Mukesh, effectively run the company now, and they look forward to a new India.
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