It filed a report with Bombay Stock Exchange (BSE) filing and said: “We refer to your email...seeking clarification on news item ‘Network18 denies reports on assets sale to Times Group.”
It added: “We reiterate that the report of a sale of Company's news assets is false and malicious.”
As per various media reports, Bennett Coleman and Co, or Times Group is looking to hire advisers for due diligence on the news properties of the Mukesh Ambani-owned company (Network18), where options range from an outright exit to a stake sale. Talks, however, may not translate into a deal, as more suitors may emerge.
Also, as reported in November, Reliance was in talks with Japan’s Sony Corp for a stake sale in Network18 Media and Investments Ltd. Network18 has vehemently denied these media reports.
The company said: “Reliance Industries firmly denies (the) story. The story is baseless and false.”