Reliance Industries has no intention to bid for the BT (formerly British Telecom), the telecom operator in the United Kingdom.
Reliance said media reports claiming its resolve to bid for the telecom operator were "speculative and baseless".
"We expect greater diligence and verification of facts before publishing such articles," the company stated.
Shares in BT jumped 9 percent on Monday after a report in The Economic Times said Reliance Industries was weighing a bid for the British telecoms group. Oil-to-telecoms conglomerate is considering an offer for British telecom company BT Group Plc, the reported said, citing sources familiar with the matter.