Russia’s operator Yota to build US$2 billion LTE network

PanARMENIAN.Net - Russian WiMAX to LTE network operator, Yota has announced a huge plan to build a US$2 billion LTE network covering 180 cities with a total population of more than 70 million citizens by 2014.

According to cellular-news, the network, which is being funded by bank loans will then be offered on an MVNO basis to four of the country's¬ main mobile networks - Beeline, Megafon, MTS and Rostelekom. The four networks have also been granted options to buy 20% stakes in Yota once the network is completed in 2014.

State corporation Russian Technologies, which currently owns 25.1% in Yota has supported the agreement.

In a statement, Yota CEO Dennis Sverdlov said: "This deal is an endorsement of our vision for the future of the telecoms industry. We firmly believe in the separation of network ownership and service provision and believe that this ground-breaking agreement will drive innovation and benefit Russian consumers. Even more importantly, we believe that Yota can help all operators across the world to take advantage of the massive opportunity that 4G brings."

Yota currently operates networks in Russia, Belarus and Nicaragua and expects to launch in Peru shortly.