RIL ‘categorically’ denies any intent to bid for the UK telecoms group BT

Mukesh Ambani-led Reliance Industries on Monday refuted a news report on the oil-to-telecom conglomerate weighing a bid for the British telecoms group BT.

“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. The article is completely speculative and baseless. We expect greater diligence and verification of facts before publishing such articles,” said RIL in a stock exchange filing.

Shares in BT jumped as much as 9% on Monday on the back of the news report.