Boil wine in a large saucepan until reduced to about 1 1/2 cups. While wine is reducing, pat ribs dry, and season with salt and pepper.
Put olive oil in 6 quart pot over moderately high heat until hot, then brown ribs in batches on all sides, about 10 minutes for each batch. Transfer browned ribs to large platter.
Reduce heat to medium-low, and brown shallots and carrots in remaining fat. Transfer to small bowl, and set aside.
Add wine and mustard to pot juices, add ribs, and simmer covered for 2 hours. Add shallots and carrots, and continue to simmer, covered, until meat is very tender, about 45 additional minutes. When meat is falling away from bones, transfer ribs, shallots, and carrots to large platter. Serve sauce in separate container. 4 servings.