Russian telecom major goes to Iran

Russia’s third largest mobile telecom operator MegaFon has announced it is ready to invest $US 4.65 billion in the construction of a network in Iran if it gets the licence. Both GSM and 3G rights are to be auctioned later.

Earlier this year the company set up a 100%-owned subsidiary, MegaFon International, for business operations outside the CIS.

Speaking in Tehran on Monday, MegaFon's General Director, Sergei Soldatenkov, said the operator is ready to invest if granted a licence.

The tender is expected to be held in the near future. However, no details of the deal have yet been published.