MegaFon slows spending

18 Sep 2006

MegaFon, Russia’s third largest cellular operator, says it plans to cut its investments by between 15% and 20% in 2007 as it winds down its network rollout programme. A report from news agency Prime Tass attributed the announcement to the telco’s acting deputy CEO for economy and finance, Raymond Ho. MegaFon, which has more than 27.5 million subscribers across Russia, had already said spending in 2006 would be around USD1.1 billion, down 10% on the 2005 level.

Russia, MegaFon