Richard Branson, the founder of the Virgin Group, says that there is "absolutely no truth" to the story that Robert Plant ripped up a contract with an $800 million offer for a Led Zeppelin reunion tour.

"I’ve been left dazed and confused by a story doing the rounds this week about us apparently offering Led Zeppelin £500 million to reform and carry out a tour," he wrote on his blog. "As much as I love the band, there is absolutely no truth to the story."

Earlier this week, the U.K. tabloid the Mirror reported that Jimmy Page, John Paul Jones and Jason Bonham had all signed a contract for the reunion. But they said that Plant, who has repeatedly spoken of his unwillingness to perform with his old band again, ripped up the contract in front of the promoters. Plant quickly denied the story, and the Mirror has since deleted the original article.

Branson added that he spoke with Plant after the story broke. "Robert told me he is very proud of his history and the band’s past, and has always had great respect and love for his work throughout his career," Branson said. "However, he really believes he must move on with his life and career today ... As Robert told me, 'Look, Richard, I just do things because I love them and I want to do more new things that I love.' I couldn’t agree more."

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