MegaFon to cut spending

5 Jul 2006

Russia’s third largest cellular operator MegaFon plans to reduce its annual investments in 2006 to around USD1.1 billion, down 10.7% on last year’s figure. Prime Tass reports that the telco will spend the bulk of this on network development and on attracting more subscribers in the Urals, Siberian and Far East federal districts. MegaFon had 24.2 million subscribers by the end of March according to TeleGeography’s GlobalComms database.

Russia, MegaFon