India Shares Rally as a Family Feud Ends


From The New York Times:

India’s stock markets rallied Monday on news that the matriarch of the family-controlled Reliance Group, India’s biggest private conglomerate, had stepped in to broker peace between her sons and divide the company. The $23 billion group, whose businesses include the world’s third-largest oil refinery, the world’s largest maker of polyester yarn and India’s biggest mobile telephone services company and its largest power company, had been in turmoil for months. The brothers who led the company, Mukesh and Anil Ambani, engaged in a public battle for succession after their father’s death in 2002.

More here.