New Delhi: Reliance Communications, India's No 2 mobile operator, on Monday denied reports that it was in talks with English Premier League soccer club Newcastle United.
Media reports in the UK said the club's owner Mike Ashley was in talks with Reliance Communications Chairman Anil Ambani about a £260 million ($513.5 million) takeover by the Indian billionaire.
"The news report is completely false and baseless. There are no such plans," Reliance Communications said in a statement.
Ashley, also a billionaire, controls about 70 per cent of British biggest sporting goods retailer Sports Direct.
The reports stated that Ashley was speaking to Reliance as well as Singapore investment group, Profitable - which is headed by former England player, Steve McMahon - for a possible buy-out for his financially beleagured club.
Ashley bought Newcastle from Freddy Shepherd last year for £137 million. Ashley had quoted £420 million when approached by New York finance firm InterMedia Partners, who were interested in buying the team.
An earlier rumour had given the impression that Ashley was considering selling the club to to the family of al-Qaeda chief Osama Bin Laden.
The rumour, reported in an English tabloid, were met with shock, dismay and disgust by fans of the club.
The Bin Ladens, who own a Saudi Arabian building firm, planned to hand over £300 million for the Premier League giants to owner Mike Ashley, according to the English tabloid.
(For updates you can share with your friends, follow IBNLive on Facebook, Twitter and Google+)
 |
 |
 |
|
displayed with permission. Use of the CNN name and/or logo on or as part of CNN-IBN does not derogate from the intellectual property rights of Cable News Network in respect of them.