Megafon set for 2003 IPO

15 May 2003

TeliaSonera-backed cellco Megafon has announced it is planning its initial public offering for later this year and expects to be in a position to name the lead manager within a couple of months. Prior to the IPO, Megafon’s eight subsidiaries will be merged to form a single operating unit. Megafon is Russia’s third largest cellular operator with around three million clients.