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Indian billionaire denies Newcastle takeover talk
Anil Ambani, chairman of India´s second largest telecom firm Reliance Communications, at the company´s 2007 annual general meeting Mumbai. Reliance Communications has denied reports they are in talks to buy Premier League club Newcastle.
NEWCASTLE, England (AFP) - Indian mobile network Reliance Communications on Monday denied reports they are in talks to buy Premier League club Newcastle.
It was reported that the company's chairman Anil Ambani, the world's sixth richest man, had spoken to Newcastle owner Mike Ashley about a potential takeover.
Ashley is searching for investors to pump cash into Newcastle but Ambani, worth an estimated 23 billion pounds (45 billion dollars), has distanced himself from the speculation.
"The news report is completely false and baseless. There are no such plans," read an official statement from Reliance Communications.
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