Reliance Industries may buy 26 per cent stake in hospital chain Fortis Healthcare, thereby making its footprint in healthcare sector, the Financial Express reported on Thursday.
Citing industry sources, the report said Reliance had approached Malvinder and Shivinder Singh who own Fortis.
Fortis last week unveiled its plans to raise about $1.2 billion to acquire stake in Singapore hospital chain Parkway Holdings.
Malaysian sovereign wealth fund Khazanah is also in line to acquire the stake in the Singapore hospital chain and the Singapore Securities regulator has given a deadline of July 30 for the acquisition.
Even though spokespersons of both the companies could not be reached for comments, a Fortis official is reported to have said that the company had not received any stake buy offer from Reliance Industries and described the speculation as baseless.
However, top officials of Reliance and Fortis have reportedly met once to discuss the prospects of such a deal.
Source: RTT News