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Business news, 24.05.2002 15:06

Megafon shows fastest mobile growth

Mobile operator Megafon is growing faster than rivals MTS and Vimpelcom according to a report in Finnish newspaper Taloussanomat. Swedish Telia and Finnish Sonera hold a 44 per cent stake in the company, which has the third place in terms of the market share in Russia. Megafonís customer base increased 55 per cent in the first four months of the year, while MTS and Vimpelcom grew by 30 and 25 per cent respectively. Megafon has now 1.4 million subscribers. Whereas 8 in 10 Scandinavians have mobile phones, only about 1 in 14 Russians possesses a mobile phone, which shows that the market provides large potential growth in subscriber numbers.

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