German telecommunications giant Deutsche Telekom is teaming with buyout group Centerbridge on a bid to acquire German sports betting operator Tipico.

In October, the Malta-headquartered Tipico enlisted the help of JP Morgan and Rothschild to explore a potential sale of the business, with names like Amaya Gaming, 888 Holdings and William Hill bandied about as potential suitors.

On Tuesday, Reuters reported that Deutsche Telekom (DT) and Centerbridge had thrown their hats into the ring via a tandem bid that would see DT take a minority stake in Tipico. Details were scant, but the DT/Centerbridge bid reportedly meets Tipico’s original estimation that the company is worth around €1b.

Tipico is one of Germany’s largest retail and online betting operators, with earnings of around €110m in 2015. Tipico recently burnished its visibility in the German market by entering into a four-year official betting partnership with football giants Bayern Munich, adding to existing Bundesliga deals with FC Hoffenheim and Hamburger SV.