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Mobile operator MegaFon plans to invest $4.6 bln in Iran

TEHRAN, May 12 (RIA Novosti) - MegaFon [RTS: MEGF], Russia's third largest mobile operator, is ready to invest around 3 billion euros ($4.6 billion) in its business in Iran, the company's general director said on Monday.


MegaFon International, a subsidiary of MegaFon created to implement projects abroad, is opening its office in Tehran and plans to participate in a tender for obtaining a license on the provision of GSM standard cellular services in Iran.


"We consider the Iranian market sufficiently attractive for the development of mobile communications," Sergei Soldatenkov said. "Iran is ahead of Russia in terms of population growth, while its economy is sufficiently stable."


Irancell and TCI are currently the only two mobile operators working in Iran.


"MegaFon International is ready to invest in the construction of the network about 3 billion euros within three years after obtaining the license," Soldatenkov said.


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