Deutsche Telekom AG, T-Mobile’s parent company, is looking to sell off its Dutch unit.
According to a report from Bloomberg, Deutsche Telekom is working with Credit Suisse on a sale of T-Mobile Netherlands that could be worth seven to eight times the target’s earnings before interest, taxes, depreciation and amortization.
As Bloomberg points out, that would put the sale price for the unit at around $5.7 billion. The deal is reportedly at the beginning stages and the company may still decide not to sell.
The Dutch unit of the company isn’t a huge part of Deutsche Telekom’s overall business. The segment accounted for just 2.5 percent of overall revenue, while the United States and Germany accounted for more than two thirds of the company’s sales last year.
Shares of Deutsche Telekom were up over 2 percent in afternoon trading to $15.68.