On Friday, the billionaire brothers from India, Ambani brothers said that they have signed a deal valued at US$2.1 billion. The agreement includes a share to telecom tower infrastructure that signaled reconciliation in the once warring family.
The agreement showed signs that the brothers were finally patching up after a bitter fight. The said fight was for the control of Reliance Jio Infocomm after their father died in 2002. Complications had it as their father did not leave any will for the flagship firm of the Anil Ambani group.
The companies said that the agreement will help Reliance Industries to accelerate its most awaited high speed fourth generation telecom services.
The aggregate value of the agreement is priced more than US$2.1 billion. This was specified in the deal for the duration of the agreement according to the statement.
Last April, the two companies signed a US$220 million deal to share their fiber-optic communications networks.
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