Reliance Industries denies BT Group bid intent
Summary
India’s Reliance Industries on Monday denied that it was considering a bid for UK telecom group BT Group PLC
India’s Reliance Industries Ltd. on Monday denied that it was considering a bid for U.K. telecom group BT Group PLC.
Responding to a report in The Economic Times, Reliance said that it “categorically" denied any intent to make a bid for BT and that the article was “completely speculative and baseless."
Shares in BT rose as much as 9.5% in early trade. They are currently up 8.80 pence, or 5.7%, at 162.80 pence having peaked at 168.60 pence earlier in the session.
The Economic Times reported earlier Monday that Reliance was weighing a bid for BT, citing unnamed sources.
Catch all the Corporate news and Updates on Live Mint.
Download The Mint News App to get Daily Market Updates & Live Business News.
more
