Reliance Jio’s parent company Reliance Industries Limited (RIL) has its hands in a vast array of businesses and RIL having a strong hand when it comes to financials has been making many acquisitions as of late. In a new move, Reliance Jio might be making deliberations about acquiring a subsidiary of Deutsche Telekom AG, T-Mobile Netherlands BV. The dealings and deliberations for the deal seem to be going on behind closed doors as per the people with the knowledge of the matter. Also, there has been no final offer and the details have not been finalised yet. Reliance Jio happens to be working on with an advisor on the matter to make an offer to the Dutch company.
Deutsch Telekom Employs Morgan Stanley
The report comes from ET Telecom as per which both the companies have declined to make any comments on the same. Deutsch Telekom seems to be seeking around 5 billion euros for the company which translated to $5.9 billion in USD. As for the other interested parties, some of the big names that are on the line interested to buy T-Mobile Netherlands include Apax Partners, Apollo Global Management Inc., BC Partners, Providence Equity Partners and Warburg Pincus. Morgan Stanley is working out with Deutsch Telekom on the details of the deal and evaluating offers.
Reliance Jio Making Big Strides in the Industry
It is worth noting that in the Netherlands, Deutsche Telekom entered the industry in 2000. The company formed a venture with Belgacom SA and Tele Danmark and in 2003, T-Mobile Netherlands bought the leftover stake thus changing the name to same. On the other hand, Reliance Industries Limited is the biggest company of India by market cap with its hands delving into industries like petrochemicals, refining and of course telecom. Reliance Jio has shared its intentions of becoming a big tech giant in the coming years with multiple Digital Services. The telecom company has made many strides in the last few years with the introduction of FTTH services under the name of JioFiber and the amassing of 400 million and more subscribers on its LTE services.