M&A

M&A

Reliance considers $5.7 B offer to buy out Deutsche Telekom in Holland's T-Mobile

Hindustan Times  

Reliance Industries Ltd (RIL) is set to make a USD 5.7 billion non-binding offer to acquire a controlling stake in T-Mobile Netherlands BV, the country's largest telecom operator. RIL is expected to make the offer within a month and has begun shortlisting lenders to fund the transaction. Several top foreign banks are forming a syndicate for financing the acquisition. T-Mobile Netherlands is a unit of Deutsche Telekom AG. The German company entered the Netherlands in 2000, acquiring a stake in a venture with Belgacom SA and Tele Danmark. The business was renamed T-Mobile Netherlands in 2003 after the German carrier bought the remainder of the stake. Deutsche Telekom is reportedly seeking about USD 5.9 billion for its stake in T-Mobile.