Billionaire Ambani’s new $23 phone slams rival’s share prices

MUMBAI: The Indian tycoon who punched his way into the country’s mobile phone industry by starting a carrier with free services took another swing at rivals, unveiling a cheap feature phone with access to unlimited data. Competitors’ shares plunged. The wireless unit of billionaire Mukesh Ambani’s retail-to-refining conglomerate will offer a data-enabled feature phone for …

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