ADAG Retail – Radio Shack, Careefour or Tesco likely JV Partner

Looks like both the brothers have decided not to honour the Non-Compete agreement that they have signed after dividing the Reliance group. Insiders have leaked that Anil Ambani is in talks with Radio Shack, Careefour and Tesco to be their front end in retailing.

Last October Careefour was in talks with Mittal’s Bharti Enterprises and eventually Mittal decided to go with Wal-Mart.

While the recent corporate espionage looms over Anil Ambani where B D Khurana, President of Reliance Communications was made the scapegoat, Anil and his team are busy finalizing deal for their retail venture. Also they are planning to enter the health care in a big way – directly competing RIL’s Mukesh Ambani and Fortis HealthWorld’s Malvinder Singh.