Indian billionaire Mukesh Ambani is reportedly eyeing a takeover bid for British high-street chain Boots.
Mr. Ambani is the largest shareholder and chairman of retail-to-energy group Reliance Industries.
Mumbai-based Reliance is reportedly working on the potential bid with US takeover firm Apollo Global Management.
Earlier this year, the Walgreen Boots Alliance announced a review of the boots business and reportedly put the company up for sale.
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The deal could see Boots expand into India, Southeast Asia and the Middle East, according to the Financial Times, which first reported on the joint bid, citing people familiar with the matter.
Under the plan, Reliance and Apollo would reportedly own shares in Boots, although it was not clear if they would be equal partners in the business.
Boots – which has more than 2,200 pharmacies, health and beauty shops in the UK – could be worth as much as £6bn ($7.5bn).
The Walgreen Boots Alliance, Reliance and Apollo did not immediately respond to BBC requests for comment.
Mr Ambani is the eighth richest person in the world.
The 65-year-old is also the second richest person in Asia, with an estimated net worth of more than $100 billion, according to the Bloomberg Billionaires Index.
His late father, Dhirubhai Ambani, founded a textile manufacturer that would eventually become Reliance Industries.
It is now one of India’s largest conglomerates – with companies such as petrochemicals, oil and gas, telecommunications and retail.
Mr. Ambani currently owns more than 49% of Reliance Industries.
The Ambani family already own tens of millions of pounds in assets in the UK.
In 2019, Reliance Brands Limited, owned by Mr Ambani, bought toy retailer Hamleys for an undisclosed sum.
Last year Reliance Industries bought historic British country club Stoke Park for £57m.
The future of the 173-year-old boat business has been in question for months.
In January, US-based owner, Walgreen Boots Alliance, announced that it had begun a strategic review of the retailer “in line with its recently announced priorities and strategic direction, which includes an increased focus on the US healthcare sector “.
“Further announcements will be made in due course after making the right decision for the future of Boots and for all stakeholders,” the company said.
The owners of British supermarket group Asda – brothers Mohsin and Zuber Issa and private equity firm TDR Capital – have also reportedly made an initial bid for Boots.
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