New Delhi: After ravaging the Indian mobile telephony market with cheap data and free calls, making Reliance Jio the undisputed market leader in the country, Mukesh Ambani is now planning to take his telecom business globally. Huh.
Reliance Industries Limited (RIL) is considering a proposal for Deutsche Telekom AG’s Netherlands business, which could be valued at around $6 billion or Rs 44,700 crore, to acquire Reliance from an old-economy conglomerate as a technology and e- There is a move to transform into a commerce giant.
Bloomberg quoted unnamed sources as saying that RIL is working with a consultant to consider bidding for T-Mobile Netherlands BV.
Discussions are on, no final decision has been taken, and there is no certainty that Reliance will decide to go ahead with a formal proposal, the report said.
Mukesh Ambani will throw his hat in the ring, which has received interest from leading private equity firms such as Apex Partners, Apollo Global Management Inc., BC Partners, Providence Equity Partners and Warburg Pincus.
Deutsche Telekom has appointed Morgan Stanley to sell the business.
The firm had already turned down “unsolicited high-level offers” from investment firms EQT AB and StonePeak Infrastructure Partners.
Ambani has already made his intention clear that he will join Reliance’s digital arm, Jio Platforms Ltd., in the future. want to expand internationally. The company received more than $20 billion in funding last year from investors including Facebook Inc.
According to Brand Finance’s annual study on the most valuable and strongest global brands, four-year-old telecom giant Reliance Jio has been voted the fifth strongest brand in the world after Ferrari and Coca-Cola.
To give wings to its global aspirations, Reliance Jio has set up a subsidiary in Estonia.
Reliance Jio said in May that it was building the world’s largest international submarine cable system, centered in India, with partners around the world and submarine cable supplier Subcom. The corporation intends to develop two underwater cable systems to connect India to the Asia Pacific markets via Singapore, Thailand and Malaysia, and the other to Italy, the Central and North Africa region.
Reliance Jio is at an advanced stage of deploying 5G solutions in India to upgrade from 4G and will be exporting Made in India 5G technology to mobile networks globally. The company is working with leading global partners to develop a full range of 5G enabled devices.
A mail sent to RIL for its response remained unanswered till the time of publication of this article.
Shares of RIL closed 0.54% higher at Rs 2088.4 on the BSE on Tuesday in a strong Mumbai market, taking the company’s value to Rs 13,23929 crore.
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