Hotel Leela venture in reference to the news item that appeared in a leading financial daily titled ‘RIL to buy Leela's biz park to house 4G operations, has clarified that it has not yet entered into any definitive agreements for sale of the property either with Reliance Industries (RIL) or any other party. Further, it stated that the company and its senior management continue to evaluate proposals and will make announcement to the Stock Exchanges and investors as and when appropriate.
Earlier, it was reported that Reliance Industries was all set to acquire Hotel Leelaventure’s business park in Chennai to house its headquarters for its much-awaited 4G operations. The Leela business park was chosen for housing RIL’s 4G operations, due to its close proximity to the sea, which would help the company in laying down the undersea cables.
