diff --git a/bundle.c b/bundle.c
index 8d31b98f58..8d12816b9d 100644
--- a/bundle.c
+++ b/bundle.c
@@ -188,12 +188,16 @@ int verify_bundle(struct bundle_header *header, int verbose)
 			     r->nr),
 			  r->nr);
 		list_refs(r, 0, NULL);
-		r = &header->prerequisites;
-		printf_ln(Q_("The bundle requires this ref",
-			     "The bundle requires these %d refs",
-			     r->nr),
-			  r->nr);
-		list_refs(r, 0, NULL);
+		if (!r->nr) {
+			printf_ln(_("The bundle records a complete history."));
+		} else {
+			r = &header->prerequisites;
+			printf_ln(Q_("The bundle requires this ref",
+				     "The bundle requires these %d refs",
+				     r->nr),
+				  r->nr);
+			list_refs(r, 0, NULL);
+		}
 	}
 	return ret;
 }