Glad to see VIL’s fund raise; India to benefit from 3 pvt telcos: Airtel MD

Bharti Airtel Managing Director Gopal Vittal on Wednesday said he was happy to see Vodafone Idea raising funds and asserted that India will be well-served with three private players operating in the market.

The comment assumes significance as Airtel’s smaller rival Vodafone Idea recently raised Rs 18,000 crore pulling-off India’s largest-ever follow-on public offering (FPO).

The fundraise is expected to arm VIL with firepower to improve its competitive positioning in the Indian telecom market, where it trails Reliance Jio and Bharti Airtel, by a wide margin.