Billionaire Mukesh Ambani ’s Reliance Industries Ltd. is weighing a bid for Deutsche Telekom AG’s Netherlands subsidiary, according to people familiar with the matter. The Indian conglomerate is working with an adviser to evaluate an offer for T-Mobile Netherlands BV, the people said, asking not to be identified discussing confidential information. A deal for T-Mobile Netherlands would represent a rare purchase in Europe and come as Ambani tries to transform Reliance from an old-economy conglomerate into a technology and e-commerce titan. The business was renamed T-Mobile Netherlands in 2003 after the German carrier bought the remainder. In 2019, T-Mobile Netherlands merged with Tele2 AB’s operations in the country to create one of the biggest local carriers.

Source: Mint August 10, 2021 08:15 UTC