India's Reliance Jio is weighing a bid for Deutsche Telekom AG’s Netherlands subsidiary, according to media reports.
Quoting unnamed sources, the report said that billionaire Mukesh Ambani’s Indian conglomerate is working with an adviser to evaluate an offer for T-Mobile Netherlands BV. Deutsche Telekom is seeking about 5 billion euros ($5.9 billion) in any sale, the people said.
Deutsche Telekom and Reliance Jio’s parent company Reliance Industries Limited (RIL) are tight-lipped on the ongoing talks.
RIL is working with an adviser to consider a bid for T-Mobile Netherlands BV, Bloomberg reported quoting unnamed sources. According to some reports, Morgan Stanley is working out with Deutsch Telekom on the details of the deal and evaluating offers.
Reliance is India's largest company by market value with businesses spanning oil refining, petrochemicals, retail, and telecommunications.
Deutsche Telekom entered the Dutch mobile phone market in 2000, buying a stake in an enterprise with Belgacom SA and Tele Danmark. The enterprise was renamed T-Mobile Netherlands in 2003 after the German provider purchased the rest.
If Jio buys T-Mobile Netherlands, it would represent Reliance’s first operator purchase in Europe and could represent a major shakeup for the saturated Dutch telecoms market.