Reliance Industries denies bidding for UK's telco BT Group

Reliance Industries denies bidding for UK's telco BT Group
© Provided by Business Today Reliance Industries denies bidding for UK’s telco BT Group

Reliance Industries on Monday issued a clarification on report suggesting that the Mukesh Ambani-led conglomerate is bidding for UK telecoms group, BT, formerly known as British Telecom.

In a statement, RIL stated, “We categorically deny any intent to bid for the UK telecoms group, BT, formerly British Telecom, as reported in the article titled “Reliance Mulling Bid for UK’s Telco BT Group” published in The Economic Times dated November 29, 2021,” adding that “The article is completely speculative and baseless. We expect greater diligence and verification of facts before publishing such articles.”

A report citing multiple sources, had stated that Reliance might make an unsolicited offer to buy into BT or try to get a controlling share. It could also partner with BT’s networks arm Openreach and fund its fibre expansion plans, it added.

Meanwhile, shares in BT jumped as much as 9 per cent on Monday the report.

After rising as much as 9 per cent, shares in BT were trading up 8 per cent at 166.35 pence at 0842 GMT, valuing the company at 16.5 billion pounds ($22 billion). Reliance shares ended 1.13 per cent up at Rs 2,439.50 on BSE on Wednesday.

The British company, whose shares have more than halved in the last five years, was already the subject of takeover speculation after Franco-Israeli billionaire Patrick Drahi bought a 12.1 per cent stake this year.

Drahi will be free to buy more of the British telecoms giant on December 11, having pledged in June he wouldn’t launch a takeover offer for the company – a statement that precluded him from doing so for six months under British takeover rules.

News Related


IO Interactive is giving all Hitman 3 owners on Steam a choice of free content for the game's botched launch

© Provided by GamePur Hitman 3 launched on Steam earlier this month, but the version of the game that hit the platform had some major stability issues. This wasn’t restricted ... Read more »

Joe Mantegna's Biggest Hope For A Criminal Minds Revival - Exclusive

Jim Spellman/Getty Images For 15 seasons, “Criminal Minds” enthralled viewers by following a fictional group of criminal profilers who crack cases for the FBI. For 13 of those seasons, actor ... Read more »

Saturday is going to be a new experience for me, says Barty after reaching Australian Open final

© Provided by The Times of India Ashleigh Barty is not only entertaining fans with her wicked array of shots spin that confounds and direction that displaces she’s also embracing ... Read more »

Sydney pharmacies in areas hit by Omicron struggle to provide concessional rapid tests

Pharmacies in some areas of Sydney with the highest rates of Omicron infections are struggling to provide rapid antigen tests to concession card holders despite participating in the federal government ... Read more »

The Whiteboard: Get ready for some new faces on the NBA All-Star teams

© Provided by Fansided The Whiteboard is The Step Back’s daily basketball newsletter, covering the NBA, WNBA and more. Subscribe here to get it delivered to you via email each morning. ... Read more »

Wave of console Apex players banned for ranked Arenas exploit

© Provided by Dot Esports Every day is a good day to hear about more players getting banned for cheating, and in Apex Legends, that usually means getting an update ... Read more »

I'm the UK's most trolled woman… I've been branded a paedo online & locals yell at me in the street but I'm just a mum

AN UNSUSPECTING mum in a sleepy market town has become one of the most trolled women in the UK, The Sun can reveal. Terrified Sigita Kazlauskaite, 34, said her life ... Read more »

Minister 'disappointed' with broadband rollout delays as firm says completion dates uncertain

© Alamy Stock Photo THE COMPANY CHARGED with delivering the State’s rural broadband plan has said it “is difficult to predict completion dates” for thousands of customers  “with absolute certainty” ... Read more »

Biden and Breyer to hold event marking justice's retirement

President Joe Biden and Supreme Court Justice Stephen Breyer will hold an event on Thursday afternoon at the White House to mark the justice’s retirement, the White House says. © ... Read more »

Is Donovan Mitchell Too Big of a Star for the Utah Jazz?

© Provided by The Big Lead Katelyn Mulcahy/GettyImages The Utah Jazz once again have a very good team. Currently in the No. 4 spot in the Western Conference, they’d get ... Read more »

Jordanian wanted on child abuse charge nabbed after unruly behavior

Jordanian arrested after causing disturbance The National Bureau of Investigation Special Task Force arrested a 44-year-old Jordanian for causing disturbance in a condominium in Makati City. According to John Consulta’s ... Read more »

Report: Miami's Duncan Robinson not nearly enough for Rockets to trade Christian Wood

© Provided by RocketsWire With two weeks to go until the NBA’s Feb. 10 trade deadline for the 2021-22 season, the Miami Heat are one team clearly monitoring the situation ... Read more »

How to get a Fire Stone in Pokémon Legends: Arceus

© Provided by GamePur You’ll need to acquire several evolution items in Pokémon Legends: Arceus to evolve the many Pokémon you encounter during your journey. Certain Pokémon require specific evolution ... Read more »

«Das Militär weckt die Hoffnung, dass sich endlich etwas ändert»

Melchior Lengsfeld, Geschäftsleiter von Helvetas, erklärt die Hintergründe des Umsturzes im westafrikanischen Land. Kurz vor dem Machtwechsel war er noch vor Ort. © Foto: Keystone «Der starke Mann von Burkina»: ... Read more »

When does the Formula 1 2022 season start?

© PA Wire The Verstappen vs Hamilton battle will renew in Bahrain in March – PA Wire The biggest season in Formula 1’s history gets underway in March, as the ... Read more »

Er lag neun Stunden auf der Strasse: Schweizer Fotograf mitten in Paris erfroren

René Robert (†85) stürzte bei einem nächtlichen Spaziergang in Paris. Niemand half ihm. Nach neun Stunden rief ein Obdachloser die Ambulanz. Doch da war es bereits zu spät. © Bereitgestellt ... Read more »

West London man, 37, jailed after man shot twice in the back following Soho nightclub brawl

A West London man has been jailed for attempted murder for his role in a shooting following a fight at a Soho nightclub. Three other men had already been convicted ... Read more »

'Can't make it up', 'Done with this club' - Many Spurs fans rage as transfer update emerges

Tottenham Hotspur fans have been reacting to news surrounding news for non-league talent Ollie Tanner. Spurs have certainly been looking everywhere when it comes to new talent for them to ... Read more »

Barry Cryer regularly returned to theatre where he first performed in 1956

Veteran comedian Barry Cryer had a “soft spot” for the theatre where he first performed in 1956, returning regularly over the years. Cryer, who wrote for legends of British comedy ... Read more »

Monty Python's John Cleese joins tributes to his ‘old friend' Barry Cryer

© PA Archive Sony Haven’t a Clue Monty Python star John Cleese has joined famous names from the world of comedy in paying tribute to Barry Cryer following his death ... Read more »

How to download and play Pokémon Legends: Arceus early

© Provided by Dot Esports Pokémon Legends: Arceus has been released in several regions now and some people have been able to get their hands on the game early by ... Read more »

'Understand...' - Journo drops big Everton manager update; 43 y/o now 'very much in contention'

© Provided by Transfer Tavern Norwich, Canaries, Premier League, Frank Lampard David Ornstein has now dropped some big Everton managerial news involving both Frank Lampard and Vitor Pereira. The Lowdown: ... Read more »

PSC tells Obiena, Juico: Reconcile for our country

© The Manila Times PSC Chairman William Ramirez FILE PHOTO “MAGPAKUMBABA kayo. Mag-usap kayo para sa bayan.” This was the message of Philippine Sports Commission (PSC) Chairman William “Butch” Ramirez ... Read more »

Apex Legends' Season 12 launch trailer shows off Mad Maggie's abilities and strange twists to incoming Olympus map

© Provided by GamePur It seems Apex Legends: Defiance, the battle royale’s twelfth season, will have someone who is more than just a legend, as its official launch trailer has ... Read more »


© Associated Press Nelly Korda is looking for her first win of 2022 A star-studded field is gathered in Florida for the Gainbridge LPGA, with all four rounds available to ... Read more »

Miller flies to Beijing Sunday

© Released Miller flies to Beijing Sunday MANILA, Philippines — Philippine Sports Commission chairman William Ramirez and Philippine Olympic Committee president Abraham Tolentino yesterday praised Fil-American alpine skier Asa Miller ... Read more »

Man Utd's plan for Anthony Elanga as Ralf Rangnick happy for four players to leave

Three more players could follow Anthony Martial out of Manchester United before the January transfer window closes thanks to Anthony Elanga. Interim manager Ralf Rangnick was previously reluctant to let ... Read more »

England hold key Six Nations meeting in pub after fire forced them from hotel

Joe Marchant has revealed England began the process of rebuilding their midfield from the pub after their Six Nations preparations were hit by an electrical fire. Eddie Jones’ squad scrambled ... Read more »

Blackpool confirm Charlton Athletic transfer agreement

© Provided by Football League World Carabao Cup Second Round – Crewe Alexandra v Aston Villa Blackpool have announced the loan signing of Charlie Kirk from Charlton Athletic and they ... Read more »

Toyota Hilux accessories list revealed ahead of launch

© Nikhil Puthran Toyota Hilux accessories list revealed ahead of launch The Japanese automaker, Toyota recently revealed the Hilux pick-up in India ahead of its price announcement in March. Deliveries ... Read more »

UK records another 96,871 Covid cases and 338 deaths as figures stay flat

© PA Wire A woman pauses to look at dedications written on the Covid memorial wall in Westminster, London (Victoria Jones/PA) The UK recorded another 96,871 Covid cases and 338 ... Read more »

Fleetwood's opening 67 at Dubai Desert Classic hints at return to top form

© Provided by The Guardian Photograph: Andrew Redington/Getty Images Surprise that Tommy Fleetwood has slipped to 43rd in the world – and the fifth-ranked Englishman – owes everything to appreciation ... Read more »

Scientists warn of 'stealth' variant blamed for rise in Euro cases

Covid cases are continuing to recede in the U.S. – down 20 percent over the past week to 615,958 per day – but health officials warn that the next threat ... Read more »

Hodnett extends Munster deal as Goggin and French sign new contracts

© Ben Brady INPHO Hodnett after Munster’s win in Castres. MUNSTER BACK ROW John Hodnett has extended his contract with the province through to the summer of 2024. The 23-year-old ... Read more »

Principals, parents disappointed with DDMA's decision to not open schools in Delhi

© Provided by The Financial Express Though the schools were briefly reopened, they were shut again on December 28 last year in view of the third wave of COVID-19 driven ... Read more »

'I can't live there!' Expat exposes Berlin's problems - ‘inconvenient'

Reddit user 100coffeesaday moved to Berlin three years ago and speaks German fluently. On the social media platform, he’s been active on the Germany subreddit, as well as in expats ... Read more »

Tell us how you plan on celebrating this Lunar New Year

© a.v.Photography/Getty Images Tell us how you plan on celebrating this Lunar New Year As the Year of the Tiger approaches, Insider wants to know how your plans for Lunar ... Read more »

Protests break out in Nepal against China's interference

© IANS Protests break out in Nepal against China’s interference Morang (Nepal), Jan 27 (IANS) Nepali civil society group Rastriya Ekata Abhiyan on Thursday held a demonstration against China in ... Read more »

Malnutrition deaths have reduced in Melghat, Bombay High Court asks Maharashtra govt to prepare long term plan

The Maharashtra government said that instead of the dry ration that was being given to tribals in Melghat, the state government has decided to give hot cooked meals to deal ... Read more »

Bodycam Footage Shows Migrants Flown into NY in Dead of Night: ‘Everything Is Supposed to Be Hush-Hush'

Bodycam footage released through a Freedom of Information Act request shows federal contractors dropping off migrants at the Westchester County Airport in White Plains, N.Y., last summer, with one contractor ... Read more »
On you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic