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After Months of Acrimony, an Outbreak of Brotherly Love at Reliance

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After Months of Acrimony, an Outbreak of Brotherly Love at Reliance

http://knowledge.wharton.upenn.edu/index.cfm?fa=viewfeature&id=1238

Last week peace returned to Reliance, India's largest business group with $23 billion in annual revenues, after a settlement was hammered out between Mukesh and Anil Ambani, the two warring brothers at its helm. As part of a deal blessed by their mother, Kokilaben Ambani, Mukesh will control the group's oil, petrochemicals and natural gas businesses, while Anil takes over the telecommunications, power and financial services companies. The settlement enormously relieved millions of Reliance shareholders -- and stocks in India rose to record highs. As the reorganization process gets underway, the Ambani brothers have announced aggressive plans for growth. Experts point out, however, that the Ambani saga offers important lessons on the need for family-owned businesses to set up effective processes for communication, conflict management and resolution.

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