Reliance Industries denies report of acquiring RNRL

New Delhi, Nov 28 (UNI) Denying the media report that Reliance Industries Ltd (RIL) may buy out Anil Ambani-run Reliance Natural Resources Ltd (RNRL) to settle differences over a gas supply deal, RIL today strongly denied of any plan, or talks with RNRL.

''Such one-sided reports misguide small investors who are lured to buy shares in RNRL, which benefits operators and vested interest. As a responsible company RIL will always safeguard the interest of its shareholders,'' said a RIL statement.

The Bombay High Court had, on October 14, directed the two warring companies- RIL and RNRL to renegotiate the commercial aspects of the gas deal produced from the KG basin and submit a progress report within 120 days.

UNI