Russia’s third-largest mobile operator MegaFon said it was prepared to invest around USD4.6 billion to build a GSM network in Iran, at the opening of its representative office in the Middle East state yesterday, reports Reuters. MegaFon previously announced that it planned to establish a subsidiary in Iran as a launch pad to expand in the Middle East. The cellco, whose owners include TeliaSonera, Telecominvest and Alfa/Altimo, operates across Russia but currently has just one international subsidiary, in Tajikistan.

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