MTS earmarks USD1.6bn for Russian 3G service

Thu May 29 2008, 17:22 PM

Russia's leading mobile carrier MTS plans to invest up to USD1.6bn within the next four years to build a 3G network in Russia, says Reuters. MTS, which has more than 85m subscribers in Russia and CIS countries, claims to have already spent 5% of that sum. The carrier expects to reap USD2.5bn in added revenue from 3G services - USD2bn of which will come from Russia - by 2011, says the report.

Aside from Russia, MTS operates in Ukraine, Belarus, Uzbekistan, Turkmenistan and Armenia. The carrier, which is owned by holding group Sistema, plans to launch 3G networks in Uzbekistan and Armenia next year.