Mukesh Ambani vs Sunil Mittal: After Bharti Group consortium, Reliance eyes stake in Chinese company Haier’s India business

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Times of India 6h ago

Mukesh Ambani vs Sunil Mittal: After Bharti Group consortium, Reliance eyes stake in Chinese company Haier’s India business - Times of India

Quick Summary:

Reliance Industries, led by Mukesh Ambani, has emerged as a strong contender to acquire a significant stake in Haier's Indian operations, intensifying competition with a consortium led by Sunil Mittal.

Haier aims to reduce its equity, seeking a valuation of $2-2.3 billion, as Chinese firms are more open to partnerships with Indian entities.

This development has created a competitive scenario between RIL and a consortium including Sunil Mittal of the Bharti Group, similar to their existing rivalry in the telecom sector.