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17 Sep, 2007 06:59

Russian mobile phone operator expands further in CIS

Russia’s largest mobile phone company, MTS, has bought Armenian operator VivaCell, continuing its expansion into the fast-growing CIS markets.

VivaCell cost MTS over $400 million dollars, a price analysts call fair, considering the high-growth potential in Armenia.

Less than 40% of the population uses mobile phones in a country of over 3 million people.

VivaCell now controls over two thirds of the Armenian market.

Last year MTS's main rival VimpelCom bought Armentel, Armenia's fixed-line and mobile operator, for $US 450 million.