Anil Ambani group company Reliance Communications’ stock price jumped by 10.9% after it announced a tie-up with the Mukesh Ambani group telecom company Reliance Jio Infocomm. Reliance Communications will open up its optic fibre network to Reliance Jio which has a license for nationwide 4G services. A recent government decision means that it can also provide voice services by paying a one-time fee. Reliance Industries owns a majority stake in Reliance Jio.
Mukesh Ambani
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Reliance sells 30% stake in 23 oil & gas blocks to BP: what is the deal logic?
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Reliance Industries parted with a substantial stake in its oil & gas exploration and production business to BP, in return for cash and technology to develop this business. They will also set up a joint venture for sourcing and marketing gas in the country.