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MegaFon Turnover Up 18.5% for 2010

MegaFon, Russia's third-largest mobile operator, said its turnover increased by 18.5 percent to 215 billion rubles ($7.6 billion) in 2010.

The company ended the year with 57.3 million subscribers, 13 percent more than it had at the start. Capital investment reached 67 billion rubles.

Mobile data services accounted for 21.7 percent of MegaFon's revenue in 2010, up 3.8 percentage points over the previous year.

Last week the four largest mobile operators signed a memorandum of understanding in which they agreed to use Yota's network as the foundation for rolling out next-generation mobile data services.

"We are counting on the fact that the combined forces of the largest telecoms operators will allow us to … provide mobile Internet with the highest speed possible to our customers," Tatyana Ivanova, MegaFon press secretary, told The Moscow Times. "The first step is taken — our next step is to develop a mechanism for cooperation between the participants."

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