Reliance Industries weighs bid for UK’s telco BT Group

Asia’s richest man Mukesh Ambani may have set his sights on the UK to expand Jio’s telecom footprint. Reliance Industries is weighing a bid for UK telecoms group, BT, formerly British Telecom, according to multiple people familiar with the matter.

This comes just two months after Reliance was outbid by a PE consortium of Apax Partners and Warburg Pincus who scalped T-Mobile’s Dutch unit for €5.1 billion (Rs 43,329 crore as per current conversion rate). Nonetheless, the unexpected bid for the Dutch telecom unit signalled Ambani’s global telecom aspirations. Ambani also has been shuttling between Mumbai and London, after buying the iconic Stoke Park for £57 million.