Reliance considers $5.7 billion offer for T-Mobile Netherlands
- ByAyushi Ray | September 6, 2021
Reliance considers $5.7 billion offer for T-Mobile Netherlands. RIL is expected to make the offer within a month and has begun shortlisting lenders to fund the transaction, the people cited above said on the condition of anonymity as the discussions are private. Several top foreign banks are forming a syndicate for financing the acquisition, they said. “RIL has been evaluating the deal for over three months now, and the discussions have progressed substantially since then,” said one of the two people. “Akash Ambani, who leads Reliance Jio, is personally managing the transaction.”
Mukesh Ambani, Asia’s richest man, is trying to build a global technology company that will rival Google and Amazon.com Inc., diversifying from an oil and refining business. Under Ambani’s leadership, Reliance Jio Infocomm became India’s largest telecom operator after re-entering the industry in September 2016. “The T-Mobile acquisition will give Jio a foothold in the European telecom market and help it de-risk the business by diversifying into other markets,’’ said the second person. Bloomberg first reported the transaction on August 10. The Bloomberg report said RIL is working with an adviser to evaluate an offer for T-Mobile Netherlands, and Deutsche Telekom is seeking about €5 billion ($5.9 billion) for its stake.
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