Published: Thursday, Sep 9, 2010, 2:00 IST
By Harish Gupta | Place: New Delhi | Agency: DNA
http://www.dnaindia.com/money/report_oberois-may-make-nita-ambani-vice-chairman-in-their-hotel-business_1435570
Nita Ambani, wife of Mukesh Ambani, chairman of Reliance Industries Limited (RIL), will not only be on the board of East India Hotels (EIH) but may also become its vice-chairman.
The Ambanis had bought a 14.12% stake in EIH for Rs1,021 crore on August 30.
Highly-placed sources in RIL told DNA that the vice-chairman’s post on the EIH board was not part of any deal with the Ambanis and it was a move from the Oberois’ side.
It is also learnt that the business relationship between the two is the result of the personal relationship between Nita and the Oberoi clan and the Ambanis have no interest in entering the hotel or hospitality sector.
In fact, Mukesh is set to visit the US again this week and finalise some of the agreements aimed at expanding the RIL businesses.
He will enter the telecom sector in a big way and has already bought controlling stake in a company owned by the
Nahatas.
