Reliance is looking to acquire Netherlands' largest telecom operator T-Mobile. As per reports, the Indian telecom giant is set to make a $5.7 billion offer to acquire a controlling stake in T-Mobile.
Ringing in the acquisition as per the market the market buzz is the next-gen of the company, Akash Ambani, who leads Reliance Jio. Akash Ambani is personally managing the transaction as per unnamed sources.
The deal is being evaluated for three months now and Reliance is expected to make the offer within a month. It has also begun shortlisting lenders to fund the acquisition.
With the T-Mobile deal, RIL is aiming to get a foothold in the European telecom market and further diversify its business into other markets.
T-Mobile Netherlands is 75% owned by Deutsche Telekom, with Tele2 owning the rest. It has 5.7 million customers.
Asia’s richest Mukesh Ambani has been trying to build a global technology company that will rival Google and Amazon Inc., diversifying away from an oil and refining business.