The power of India’s richest man, in not buying into BT can be quite significant.

Investors who were quite excited to witness India’s leading telecom provider joining hands with the British Telecom group got stood up, as Reliance bluntly denied bidding for BT. Shares in BT jumped as much as 9% on Monday before sliding back.

The anticipation came as a result of BT already being widely talked about with its shares halved in a 5-year time span, and with takeover speculations after Franco-Israeli billionaire Patrick Drahi helped himself a 12.1% serving this year.

Looks like Reliance is just not interested.