Summa Telecom to invest USD1.6 billion in WiMAX, GSM

27 Jul 2007

Russian telco Summa Telecom plans to invest USD1 billion to build a WiMAX network covering 330 cities by 2010, and USD600 million to roll out a GSM network, the Moscow Times reports, quoting Summa’s CEO Sergei Koshkin. In November last year the company won a nationwide WiMAX licence. Funds for the network rollouts will be provided by its largest shareholder Ziyavudin Magomedov.