MegaFon looks at Middle East expansion

Russia’s third largest cellco, MegaFon, says it is considering setting up a representative office in Iran to target business in that country and across the Middle East. MegaFon’s First Deputy General Director Alexei Nichiporenko, says: ‘We consider foreign markets, both in the CIS (Commonwealth of Independent States) and other emerging countries as a possible vector of our development.’ He added: ‘We are considering long-term investment opportunities in the Iranian telecommunication sector and by opening a representative office…we will support these opportunities.’ MegaFon, whose owners include TeliaSonera, Telecominvest and Alfa/Altimo, operates across Russia but currently has just one international subsidiary, in Tajikistan.