According to people familiar with the matter, India's richest man Mukesh Ambani's Reliance Industries Group is considering acquiring Deutsche Telekom's Dutch subsidiary T-Mobile Netherlands.

The Indian conglomerate is currently working with a consultant to evaluate a takeover offer for T-Mobile Netherlands.

The source said Reliance is still under consideration and has not yet made a final decision, nor is it certain that the company will make a formal offer. The source added that Deutsche ​Telekom's offer for the business could reach around 5 billion euros ($5.9 billion).