RELIANCE

eyes Haier India stake after Mittal

Mukesh Ambani-led Reliance Industries Ltd (RIL) has emerged as a key contender for a significant stake in the Indian operations of Chinese consumer electronics and appliance manufacturer Haier, which is seeking to localise the business by roping in a homegrown strategic partner, said people in the know. The move pits RIL against a consortium that includes Sunil Mittal of the Bharti Group, mirroring their competition in the telecommunications sector.