The parent company of UK mobile operator Three, Hutchison Whampoa, has denied claims that the business will pull out of the UK market if it is not allocated 4G spectrum in the upcoming auction when it takes place later in 2012.
Ofcom has presented new proposals that could clear the way for the UK's much-delayed 4G spectrum auction.
However, Hutchinson Whampoa Limited (HWL) said the idea was "groundless" and that it would continue to invest in its UK business.
"The speculations that HWL may stop investment in the UK and /or quit the UK telecom market are totally untrue and groundless," a spokesman for HWL said in a statement on Monday.
"HWL is the largest Asian investor in the UK and is happy with its current investments in the country. HWL is actively looking at various different investment opportunities in the UK," it added.
The spectrum auction has been delayed on numerous occasions by complaints and threats of litigation from UK operators that feel the terms of the auction are unfair, due to the allocation of spectrum proposed. In January, Ofcom issued revised proposals for the auction in order to help clear the deadlock and allow the process to progress.