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Split has enhanced Reliance valuation, says Mukesh Ambani

Washington, July 10 (UNI) Reliance Industries Chairman Mukesh Ambani, featured on the covers of the Newsweek magazine, has said that the split between the two brothers, has added value to each of the divided arms of the country's largest private sector company.

''When you see restructuring or separations in a family, value has almost always been destroyed. This is the first case where value has been enhanced. In that way, it has been a win-win ending'', Mr Ambani said in an interview to Newsweek.

The elder of the Ambani brothers gave a gracious reply to a question as to how ''distruptive and dispiriting'' was the feud.

''Fundamentally, we had different approaches. My view is to give everyone the space to grow in his own way'', he said.

The magazine said that break-up, finalised in January, left him in control of the larger (and largely petrochemical) share, Reliance Industries, and that behemoth has seen its fortunes soar ever since.

The latest edition of the news magazine which will hit the stands on July 17 says, ''India's top business tycoon hopes to kick the country's nascent boom into hyperdrive by re-making its stores, farms and even its biggest cities''.

UNI/XC/PC SK BST2005

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