If Vi dilutes the whole share, it will be good for Vi as money will be invested in networks and KMBirla might invest as he promised too along with foreign fund raising might come into picture. Vi will be good third operator which is its not currently. Adani wanted to buy Vi+BSNL at 50000 Crore but government denied giving BSNL and Ambani warned Adani from entering into this field. In any way, even Airtel or Indus Towers is not sufficient to build world class Infra like Jio. So Both these operators have to rely on GTL Infra and Jio Infra for further expansion of 4G/5G. If tariff hike comes this year(which most probably will come) Airtel will loose lot of subscribers and Airtel will gain revenue+ARPU through postpaid consumers only. They have huge customer base through Airtel Black.