RIL’S 36TH AGM: ALL EYES ON WHAT MUKESH WILL ANNOUNCE

My dear shareowners...

On the afternoon of Sunday, May 23, Anil and Mukesh Ambani announced the scrapping of a 2005 non-compete agreement, signalling a thaw in hostilities. For the three weeks that followed, a barrage of news reports about potential acquisitions, stake sales and investments by companies on both sides have dominated business headlines. Stock prices of flagship group companies soared during this period. As curtains go up on the keenly awaited AGM, here's a list of reports that have appeared in the run-up to it. Some real, some surreal, but all sensational. Much like the Ambani saga.

30 May: Anil Ambani stays at RIL's Sri Krishna Guest House at Tirupati. 
31 May: R-ADAG and US-based CBS Corporation to form an equal stakes joint venture to launch a network of television channels. 
1 June: MTN and RCOM to resume merger talks. 
Shares of JM Financial Asset Management rise on speculation that RIL is considering buying a majority stake in the firm. 
2 June: RIL likely to make big-ticket investments in coal-based power plants. 
3 June: RCOM likely to sell a strategic stake to fund 3G spectrum acquisition. 
Etisalat, AT&T and MTN said to be interested in RCOM stake. 
7 June: RCOM board approves a 26% stake sale. The company will also explore M&A opportunities. 
8 June: Anil Ambani drops a Rs10,000-crore defamation case against Mukesh Ambani. 
10 June: RIL drawing up plans to enter telecom space. 
Reliance Power acquires three coal mines in Indonesia for Rs 7,520 crore. 12 June: RIL enters the broadband space, acquiring 95% in Infotel, a big winner in BWA auctions, for Rs 4,800 crore. 
13 June: Ambani brothers and their families vacation together at the Kruger National Park in South Africa. 
14 June: RIL board approves the group's entry into pharma, power and financial services. 
ADAG might buy Star India's 25% stake in production house Balaji Telefilms. 
15 June: RCOM board approves restructuring its tower-owning unit, Reliance Infratel, into an independent company. American Towers, GTL and a consortium of Crown Castle and Blackstone, in talks to acquire the unit. 
16 June: Reliance Capital (R-Adag) to buy 18% in Bloomberg UTV. 
17 June: RIL considering acquisition of a 26% stake in Fortis hospital chain. 
RCOM considering selling a 26% stake in its wholly-owned subsidiary Reliance Globalcom. 
Mukesh Ambani might invest in R-ADAG firms, including RCOM. 
THEN AND NOW 
"With the blessings of Srinathji, I have today amicably resolved the issues between my two sons, Mukesh and Anil, keeping in mind the proud legacy of my husband, Dhirubhai Ambani." 
— statement by Kokilaben Ambani, 18 June 2005. 
Five years to this day, the Reliance empire was split between the two brothers. Will today's AGM mark a new milestone in the Ambanis' remarkable journey?BIG-BOX AGM ANNOUNCEMENTS 
2005: Restructuring of RIL 
Demerger of power, financial services and telecommunication businesses from RIL 
2006: Embarking on Retail Revolution 
Presence in 1,500 cities across India at an investment of nearly Rs 25,000 crore and promise of more than 10 lakh jobs. 
2007: Towards a Quantum Leap 
"We crossed two significant milestones--the Rs100,000 crore mark in turnover and the Rs10,000 crore mark in net profits." 
2008: A Historic Leap Towards India's Energy Security 
"Two very large projects, founded on the energy growth platform, will be commissioned in the second half of this financial year." 
2009: Time for Transformations 
"Business transformation initiative would create a Reliance that is able to scale up existing businesses; add new businesses both organically and inorganically."