Billionaire Mukesh Ambani has no plans to relocate or reside in London or anywhere else in the world, his flagship firm Reliance Industries Ltd said on Friday, November 5, as it sought to scotch speculations over India's richest family dividing time between the UK and Mumbai. It termed reports of the Ambani family looking to make the 300-acre country club in Buckinghamshire, Stoke Park their primary residence, as "unwarranted and baseless speculation".
"Reliance Industries Limited will like to clarify that the Chairman and his family have no plans whatsoever to relocate or reside in London or anywhere else in the world," the firm said in a statement.
Post Reliance acquiring the London property for Rs 592 crore, Ambani and his family's visit abroad have been linked to them making Stoke Park their second home. They live in a 4,00,000 square feet Altamount road residence, Antilia, in Mumbai.
"RIL group company, RIIHL, 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 statement said. It, however, did not comment on Ambani's reported frequent visits abroad.
"This acquisition will add to the fast-growing consumer business of the group. Simultaneously, it will also expand the footprint of India's famed hospitality industry globally," the statement added.
Two days ago, Mid Day reported that Mukesh Ambani and his family were likely to divide their time between London and Mumbai in the future. According to the report, the family was expected to make the 300-acre country club in Buckinghamshire, Stoke Park their primary residence. As per reports, the property had been private till 1908 and was later converted to a country club.