Reliance industries considers bid in UK telecom company


Reliance industries considers bid in UK telecom company

Reliance Industries is weighing a bid for UK telecoms group BT, formerly British Telecom. The firm may also propose to partner with BT's fibre optic arm Openreach and fund its expansion plans.


Reliance is also expected to make an unsolicited offer to buy into the company or even stake a claim to corner a controlling share. The current market capital of BT Group is $20.63 billion.


It is still unclear if Ambani has met with the BT CEO Philip Jansen and Outgoing Chairman Jan du Plessis.


However, when specifically asked, the company said, “Openreach remains a core, long-term, strategic asset for BT and is performing very well. Whilst we are always open to value creating options for BT, we are currently focussed on building fibre-to-the-premises (FTTP) at pace, scale and at a low cost.”


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