Indian billionaire turns to bankruptcy court after 4G price war with his brother

[alpha]

 

 

Mukesh Ambani launched his own mobile operator, Reliance Jio, in 2016, with an eye-popping offer of six months of free 4G internet and incredibly cheap rates thereafter. The company's blockbuster debut triggered a brutal price war that drove mobile data prices down from 206 rupees ($3) per gigabyte in 2016 to 12 rupees ($0.16) in 2018.

 

 

I wish Mukesh would come to my country and do the same!

 

 

https://www.cnn.com/2019/02/04/tech/rcom-ambani-bankruptcy-court/index.html

[cameronfen]

From what I have seen (not much) Mukesh is corrupt and ruthless AF. He was also an industry advisor of the government group the kneecaped foreign ecommerce companies, preventing them from selling their own brands or any exclusive items on their sites in India.  This was less than one month ago.  Then after destroying the value of flipkart (owned by walmart) and Amazon, he has announced basically the same week this regulation went out that his firm Reliance Industries is going to get into ecommerce (which is of course majority owned by him an Indian and so is not subject to these rules).

 

Also do you want a guy in your country that would go out of his way to bankrupt your less succesful brother?  They've been feuding for a while but really?  I agree it would be nice to have dirt cheap (basically free for a developed country person--look at their prices) phone service. 

[cameronfen]

Also his plan is likely to drive everyone out of India so he will have a telecom monopoly and charge exorbitant prices.  I'm sure the thought has crossed Indian policymakers minds, but they are probably bought off or worried that it would be bad politics to stop people from getting free phone service not to mention you probably are making an enemy with 50 billion dollars.