Reliance Industries may buy Deutsche Telekom arm for $5.9 billion

Billionaire Mukesh Ambani’s Reliance Industries 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. Deutsche Telekom is seeking about 5 billion euros ($5.9 billion) in any sale, the people said.

Deliberations are ongoing, no final decision has been made and there’s no certainty Reliance will decide to proceed with a formal offer, according to the people. Deutsche Telekom declined to comment. A representative for Reliance could not immediately comment.