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Business Headlines: Why Ambani’s deal with Aramco failed?

Reliance Industries’ sale of a minority stake in its refinery business, to the world’s largest company, Saudi Aramco, has stalled. The deal hit a roadblock over valuation differences, and the fact that Aramco has cited concerns over RIL’s intention to transfer some of its debt to the refinery business ahead of the transaction. Viral Acharya, ex-deputy governor of the Reserve Bank, who resigned and ended his stint a few months earlier, had a final, hard hitting message for his colleagues and those in the government. #MukeshAmbani #RelianceIndustries #RIL

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