The deal was speculated about for some time,as were concerns that it may not pan out due differences in the valuation sought.But when the announcement came from Reliance Industries Ltd.(RIL),it came with a few others that grabbed more headlines as they concerned’new’businesses-in particular the roll-out of high speed broadband through fibre-to-home connections,and a joint venture with no less than Microsoft for’cloud’computing and services.But the deal announced for RIL's oil,refining and petrochemicals businesses is no less significant.These businesses account for a sizeable chunk of the company's current revenues and an even larger share of its profitability,though both will change in the next few years as the capital expenditure cycle on the new businesses are more or less complete,and revenues will start pouring in at a faster pace.
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