However, some industry experts also said that the two incumbents already have their fair share of foreign investment and may not require any further investment
Facebook’s announcement to invest in Reliance Industries (RIL) is seen as a huge positive for the telecom sector in the country, especially for incumbents such as Bharti Airtel and Vodafone Idea.
Experts tracking the telecom space are of the opinion that the investment reposes global investors’ confidence in India’s telecom and broadband space.
“Optically, the deal fortifies Jio, but it also indicates that there is confidence in India’s telecom sector,” said Mahesh Uppal, an independent telecom sector expert.
“We should not be surprised if there are other investors keen on investing in Vodafone Idea and Airtel,” he added.
However, some industry experts also said that the two incumbents already have their fair share of foreign investment and may not require any further investment.
The UK-based Vodafone Group holds 45.2 per cent stake in Vodafone Idea, while Singtel holds 35 per cent stake in Bharti Airtel.