Billionaire Gautam Adani is considering a bid for the coal-fired power facilities owned by embattled Indian tycoon Anil Ambani and presently being auctioned by an Indian bankruptcy court.

According to the persons who asked not to be identified because the intentions are secret, Adani, which just raised $2.8 billion in cash, may face heavy competition for Vidarbha Industries Power Ltd., which manages the 600-megawatt generation facilities in central India.

According to one of the sources, Ambani’s Reliance Power Ltd. is considering making a bid for the asset in order to regain control of the company. Deliberations are continuing, and Adani and Reliance Power may opt not to forward with official proposals, according to the sources.

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