Ambani Family Reshuffled Shares in Reliance Industries Before Facebook Deal
Not very long before the $5.7 billion (Rs 43,000 crore) investment in Reliance Jio by social media giant Facebook was announced, Mukesh Ambani and his family members shuffled their shares within the family. While this may have led to a notional gain in the value of the shares, a response sent through his lawyer asserted that since the share transactions were a transfer within the family and family entities no profits or losses can be made.
