MegaFon said it was prepared to invest around USD 4.6 billion to build a GSM network in Iran, as it opened its representative office in the Middle East state, 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 and currently has just one international subsidiary, in Tajikistan.