Avisit to Hyderabad and discussions with key persons in government and the private sector blew another media-created myth -- that Information Technology (IT) development in AP has suffered after the exit of Chandrababu Naidu’s government. Well, Naidu was undoubtedly a visionary and will always be credited for accelerating IT and infrastructure development in AP, but we discovered that the...
A few months ago, the media dutifully published a release about a $100 million infusion by legendary investor George Soros into Anil Ambani-owned Big Entertainment for a 3% stake. With that deal apparently in the bag, the company was reportedly talking to other private equity funds, such as Kohlberg Kravis Roberts & Co (KKR), Carl Icahn as well as Japan’s Softbank and Abu Dhabi Investment...
This is not the only time when media reports about the Anil Dhirubhai Ambani Group (ADAG) turned out to be mysteriously wrong. On 18 March 2008, The Economic Times reported that Reliance Energy Limited (REL) “may be close to inking an agreement with India Bulls Real Estate (IBREL) to jointly develop a 6,000-acre multi-product SEZ in Maharashtra’s Raigad district”. A report as precise as that,...
