MegaFon invests 160m into Moscow network in 2002

The total investments into MegaFon, a Moscow mobile telecommunications network, were 160m at the end of 2002, General Director of the network in the Moscow region Leonid Denisov said. Denisov was quoted as saying the services of the MegaFon mobile network are represented in the Moscow region by Sonic Duo, MegaFon's 100-percent subsidiary. On December 31, 2002 the subscriber base of MegaFon in the Moscow region was 312,500, which is 20 percent higher than the figure stipulated in the company's business plan for 2002 (260,000) and ten times the figure reported in 2001 (29,000).

In 2002 the mobile telecommunications operator installed over 300 base stations, so the total number of the company's base stations is currently 600 in the Moscow region. MegaFon provided coverage of the whole of Moscow and key highways, airports, 45 districts and 1,500 locations of the Moscow region. In 2002 the company's revenues from non-voice services exceeded 12 percent of the overall revenues in the Moscow region. The company's average revenues per user (ARPU) was over $20 in 2002, 15 percent up from the estimated figure of the business plan.

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