Russian mobile phone operator expands further in CIS
Published: 17 September, 2007, 10:59
Russia’s largest mobile phone company, MTS, has bought Armenian operator VivaCell, continuing its expansion into the fast-growing CIS markets.
VivaCell cost MTS over $400 million dollars, a price analysts call fair, considering the high-growth potential in Armenia.
Less than 40% of the population uses mobile phones in a country of over 3 million people.
VivaCell now controls over two thirds of the Armenian market.
Last year MTS's main rival VimpelCom bought Armentel, Armenia's fixed-line and mobile operator, for $US 450 million.
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