Ambani family has no plan of relocating to London: Reliance

New Delhi: Denying reports of Mukesh Ambani shifting his base to London, Reliance Industries Ltd (RIL) on Friday issued a clarification rubbishing the speculation.

"Reliance Industries Limited will like to clarify that the Chairman and his family have no plans whatsoever to relocate or reside in London or anywhere else in the world," the company said in a statement.

The company said that a recent report in a newspaper had led to unwarranted and baseless speculation in social media regarding the Ambani family’s plans to partly reside in Stoke Park, London.

It further said that one of its group companies had acquired Stoke Park estate in London recently to develop the heritage property as a premier golfing and sporting resort.

"RIL group company, RIIHL, which acquired Stoke Park estate recently, would like to clarify that its acquisition of the heritage property is aimed at enhancing this as a premier golfing and sporting resort, while fully complying with the planning guidelines and local regulations," RIL said.

The statement further added that the acquisition will add to the fast-growing consumer business of the group.

"Simultaneously, it will also expand the footprint of India’s famed hospitality industry globally," the company said. (UNI)