Indian conglomerate Reliance Industries was rumoured to be assessing a bid for T-Mobile Netherlands, an operation apparently put up for sale last month by majority shareholder Deutsche Telekom for around €4 billion to €5 billion.

Bloomberg reported Reliance Industries was evaluating the opportunity alongside advisers, with no final decision made as to whether it would throw its hat into the ring.

For Reliance Industries, which owns a majority stake in disruptive Indian operator Reliance Jio’s parent Jio Platforms, it would represent a significant move in Europe’s mobile sector.

The Dutch operator is 75 per cent owned by Deutsche Telekom with the remainder held by Tele2 Group following a merger of the pair’s respective businesses in the country at the start of 2019.

Deutsche Telekom has frequently been rumoured to have been ready to part with its business in the country, including reports pre-dating the Tele2 deal.

The latest speculation claiming a deal was on the cards came last month, when the sales process was said to have kicked off with offers being invited from various interested parties.

During Tele2 Group’s Q2 results call last month, CEO Kjell Johnsen indicated his business was also willing to part with its share, telling investors it had “the opportunity to crystallise value” in the unit.