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Russia's Megafon, Vimpelcom to jointly build mobile phone masts

Reuters - UK Focus

MOSCOW, Jan 26 (Reuters) - Russia's second-biggest mobile phone operator Megafon said on Tuesday it and rival Vimpelcom (NasdaqGS: VIP - news) had started to implement a joint project for the construction of mobile towers in 10 Russian regions.

Splitting the cost of construction and operation will accelerate the expansion of fourth-generation network coverage at a lower cost, Megafon said, adding the network would be launched in the third quarter of 2016. (Reporting by Maria Kiselyova; Editing by Alexander Winning)