MUMBAI -- Mukesh Ambani, India's richest man and chairman of Reliance Industries, the country's second most-valued company by market cap, is getting back the loved sheep that has been lost for the past 13 years.
India's Supreme Court on Aug. 3 cleared the settlement between Mukesh's younger brother Anil Ambani's debt-strapped company Reliance Communications and the local unit of Ericsson, a deal under which the Swedish equipment maker agreed to accept 5.5 billion rupees ($80 million) from the company instead of the 15 billion rupees it was owed. The order paves the way for Reliance Communications to sell its consumer telecommunications assets to Reliance Jio Infocomm, the company run by Mukesh.
