Deals
Tycoon's $7 Billion Wipeout Turns His India Dream Into Nightmare
- T. Ananda Krishnan faces total wipeout on Aircel, people say
- Indian carrier filed for bankruptcy proceedings this week
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It was supposed to be the crowning achievement of Malaysian tycoon T. Ananda Krishnan’s five-decade career.
But his $7 billion bet on mobile carrier Aircel Ltd. may instead go down as one of the biggest-ever flops by a foreign investor in India, a stark reminder that doing business in the world’s fastest-growing major economy is often a lot tougher than it looks.