Stocks rise on the prospect of a weekend deal.

BT Group Plc. rose 9.5 percent on news that India’s Reliance Industries is considering a takeover bid from the UK’s largest telephone company.

Reliance may make an unsolicited offer to purchase the company, or it may bet on a majority stake in some strategic shareholders willing to sell at the right price.

Reliance weighs bet on UK BT Group

BT Openreach’s infrastructure division is valued at £ 40 billion ($ 53 billion) by private equity firms and mutual funds, while BT’s current market capitalization is £ 16.4 billion.

BT has been talking about takeovers more and more in recent years. The London-based telecom operator’s share price fell to an 11-year low in September, prompting the board to hire consultants. CVC Capital Partners and other private equity firms were investigating the possibility of joining.

Bloomberg reported in August that Reliance had previously considered acquiring another European telecom operator, T-Mobile Netherlands.