Telecom sector prospects much brighter now, says Mukesh Ambani

MUMBAI: After announcing his re-entry into telecom a few days ago following a patch-up with younger brother Anil Ambani, Reliance Industries' Chairman Mukesh Ambani today said that prospects of the sector were much brighter now than they were at the time when he had spearheaded the undivided group's foray.

"We are faced with a much larger opportunity in broadband today than we were with voice in 2001...the possibilities are limitless," Ambani said, addressing the annual general meeting of Reliance Industries Limited here.

Ambani had lost telecom to younger sibling Anil during the division of businesses in 2005, after having nurtured it for three years. The family pact had a non-compete clause which prohibited him from entering the business. It was annulled last month, paving the way for Ambani to re-enter the space.