Indian company deny takeover talks with Toon

August 4, 2008

NEW DELHI, Aug 4 (Reuters) - Reliance Communications , India's No. 2 mobile operator, on Monday denied reports that it was in talks with English Premier League soccer club Newcastle United.

Media reports in the U.K. said the club's owner Mike Ashley was in talks with Reliance Communications Chairman Anil Ambani about a 260 million-pound ($513.5 million) takeover by the Indian billionaire.

'The news report is completely false and baseless. There are no such plans,' Reliance Communications said in a statement.

Ashley, also a billionaire, controls about 70 percent of British biggest sporting goods retailer Sports Direct .