Reliance Ind denies Valero Energy takeover rumour

R.Yegya Narayanan Coimbatore | Updated on November 01, 2011 Published on November 01, 2011

Reliance Industries Ltd has scotched rumours that it was considering acquisition of or investment in Valero Energy.

In a communication to BSE, RIL said that ‘while it is, and will remain, the policy of Reliance not to comment on market rumours, in (the) light of the materiality of the rumoured transaction, Reliance wishes to dispel the rumours and announce that it is not in discussions with Valero nor otherwise considering an acquisition of Valero'.

The company further said that ‘Reliance undertakes no obligation to update this statement and intends to adhere to its "no comment" policy in the future'.

Published on November 01, 2011
This article is closed for comments.
Please Email the Editor