After some media reports claimed Reliance Industries Limited chairman Mukesh Ambani and his family are likely to move to London, following their acquisition of the 300-acre Stoke Park estate there, the Reliance group on Friday issued a statement rejecting the reports as “baseless speculation.”
Mumbai newspaper Mid-Day reported on Thursday that the Ambani family was all set to make the 300-acre Stoke Park country club in Buckinghamshire its second home.
"A recent report in a newspaper has led to unwarranted and baseless speculation in social media regarding the Ambani family's plans to partly reside in Stoke Park, London," the Reliance statement said.
The company said it would like to clarify that Mr Ambani and his family have "no plans whatsoever to relocate or reside in London or anywhere else in the world."
Mukesh Ambani lives with his family in a sprawling 400,000 square feet Altamount road residence, Antilia, in Mumbai.
In April this year, RIL bought Stoke Park for 57 million pounds. The private sporting and leisure estate was used as a private residence until 1908. Reliance said that the acquisition was part of its strategy for the fast-growing consumer business.
"RIL group company, RIIHL (Reliance Industrial Investments and Holdings Ltd), which acquired Stoke Park estate recently, would like to clarify that its acquisition of the heritage property is aimed at enhancing this as a premier golfing and sporting resort, while fully complying with the planning guidelines and local regulations," the company said.
Some Indian businessmen, including Airtel promoter Sunil Mittal and Anil Agarwal, who made his millions with the acquisition of public sector companies, use London, as a base. The Ambani family reportedly spent the summer of 2020 at Heckfield Place in Hampshire with family and close friends.
