Icon to invest USD200 million in Russian WiMAX

16 Jun 2009

Russian investment firm Icon Private Equity has announced plans to invest USD200 million into the establishment of a new national WiMAX operator. The new company will target rural regions of the country where broadband access is currently limited. Icon intends to become a major WiMAX operator across the Commonwealth of Independent States (CIS) and has already invested over USD100 million in the development of WiMAX networks in Ukraine. Huawei Technologies has been contracted to supply equipment for the initial network deployment. Icon plans to launch its first commercial services in Russia by October 2009 and intends to cover a population of 20 million by the end of the year.