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Ambani hits out at ‘rivals’ as share prices dip

By Joe Leahy in Mumbai

Published: October 15 2009 22:22 | Last updated: October 15 2009 22:22

Indian billionaire businessman Anil Ambani on Thursday lashed out at unnamed “corporate rivals” for “hammering” the share prices of his group companies, raising the temperature ahead of a crucial court case next week in his dispute with his elder brother.

Mr Ambani alleged in a teleconference that there was an e-mail smear campaign against his group, following the leak of a government-commissioned audit report that accused his flagship company, Reliance Communications, of under-reporting revenue to the government.

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