Data is the new oil for Mukesh Ambani who wants his $185 bln Reliance to serve all the needs of Indian consumers. With the backing of America’s tech monopolists, the tycoon will amass power until told to stop, says ugalani:
India’s Reliance Industries said on Aug. 18 that it had bought a majority stake in online pharmacy Netmeds for 6.2 billion rupees .
Separately, China's ByteDance is in early talks with Reliance for an investment in its video-based app TikTok's business in India, TechCrunch reported on Aug. 13, citing sources. The two companies began conversations late last month and have not reached a deal yet, according to the report. Reliance is also looking to pay up to 270 billion rupees, about $3.6 billion, to buy the Indian retail chains owned by Future Group, Mint newspaper reported on July 29, citing two sources familiar with details of the deal.
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Breakingviews - India Insight: Ambani, a maverick Rockefeller(Reuters Breakingviews) - It all comes back to one person. Mukesh Ambani, India’s richest man, is emerging as a modern John D. Rockefeller. The American industrialist amassed huge wealth and power through the rail-and-energy cartel he built in the 19th century. Standard Oil was eventually broken up, giving birth to U.S. antitrust law. For Ambani, data is the new oil. His $185 billion Reliance Industries already comprises India’s largest telephone operator, Jio, plus the country’s biggest retailer. And with the backing of America’s own technology monopolists, he will be able to accumulate power until he’s told to stop.
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Breakingviews - India Insight: Ambani, a maverick Rockefeller(Reuters Breakingviews) - It all comes back to one person. Mukesh Ambani, India’s richest man, is emerging as a modern John D. Rockefeller. The American industrialist amassed huge wealth and power through the rail-and-energy cartel he built in the 19th century. Standard Oil was eventually broken up, giving birth to U.S. antitrust law. For Ambani, data is the new oil. His $185 billion Reliance Industries already comprises India’s largest telephone operator, Jio, plus the country’s biggest retailer. And with the backing of America’s own technology monopolists, he will be able to accumulate power until he’s told to stop.
Read more »