Originally posted by Propunter2
Pretty interesting tale of two brothers.
Mukesh & Anil
They had a protracted dispute over their Father's will.
The business interests were split, Mukesh taking over the petrochem side of things.
Anil got very much into Telecommunications. There was some sort of restriction on Mukesh getting involved in Telecommunications for a time.
The Ambanis & Salgaocar families lived in the same high rise building for many years, these families were very close. Deepti Salgaocar married one of the Ambani daughters, sister to Mukesh & Anil.
Mukesh eventually launched a low cost telecommunications carrier which overtook his brother's Anil, business. So successful that Indian telecommunications companies had trouble competing, Anil ended up selling to Mukesh but not before the value of his business had dropped. And there are reports of legal issues for Anil.
https://economictimes.indiatimes.co...e-industry-in-charts/articleshow/66254901.cms
It's a complicated story & fraught with great successes coupled with terrible losses, both financial & family relationships, however I'd suggest that there is a relationship between Mukesh Ambani & the Salgaocars & they would realize that much of China's growth has been facilitated with high quality Iron Ore & coking Coal from Australia.
Read into that what you will & even though the way the Salgaocar investment happened will forever be a sore point for investors who follow this stock closely, I believe it is very strategic & we haven't even begun to see what growth in India will mean for Australia's Iron Ore industry.
Hope your right Pro.
Negotiations do take time.
Taken from the Vimson announcement:
The strategic investment comes as TNG continues to move towards development of its flagship 100%-ownedMount Peake Vanadium-Titanium-Iron Project in the Northern Territory. and represents a significant vote of confidence both in the project and the Company’s financing and development strategy. After showing extensive interest in TNG,
the Vimson Group proposed a strategic investment into the company in line with their own strategic growth and diversification objectives. In addition to the investment, TNG has agreed to
enter into discussions with the Vimson Group for potential offtake of 100% of its high purity iron ore products that it plans to produce using its TIVAN Process at Mount Peake.
