MegaFon applying for '5G' spectrum; shareholder Telia to trim stake?

15 Jun 2017

Russian cellular heavyweight MegaFon has requested an allocation in the frequency bands 3.4GHz-3.8GHz and 24GHz-29GHz for the deployment of ‘5G’ networks in cities where the football World Cup will be held in 2018, namely Moscow, Kaliningrad, St Petersburg, Volgograd, Kazan, Nizhny Novgorod, Samara, Saransk, Rostov-on-Don, Sochi and Yekaterinburg, according to a report from TelecomDaily.

In other MegaFon news, minority shareholder Telia Company of Sweden is considering the sale of a 7.8% tranche of its 25.2% stake, according to Bloomberg quoting unnamed sources familiar with the situation. A mooted price tag of roughly USD500 million for the MegaFon stake was suggested, whilst the move would fit with Telia’s current strategy to focus on its Nordic and Baltic operations and away from its Eurasian division.

Russia, MegaFon, Telia Company