According to the Digital Economy agenda approved by the Russian Government, 5G networks must be deployed in Russia in all cities with population above 1 mln people by 2020. The Company believes that the 3.4-3.6 GHz spectrum is the spectrum most likely to be used in the early stages of the roll out of 5G networks in Russia, as other possible spectrum has yet to be put up for auction or may need to be re-farmed for usage for 5G. Acquisition of Neosprint LLC will allow MegaFon to immediately obtain high-demand frequency spectrum in Moscow, an essential market for the Company. MegaFon already plans to utilize the spectrum in June to deploy test 5G networks in stadiums hosting the 2018 World Cup games in Moscow.
The Company expects to complete the transaction by the end of April, and will provide additional information related to the acquisition, including the purchase price, upon its completion.
For More Information:
|Investors: Dmitry Kononov
Director for Investor Relations and M&A
|Tel: +7 926 200 email@example.com|
|Media: Yulia Dorokhina
Head of Media Relations
|Tel: +7 926 200 6854||ydorokhina@Megafon.ru|
Notes to Editors
MegaFon PJSC is a leading Russian integrated telecommunication service provider, operating in all segments of the telecommunications markets in Russia, and in the Republics of Abkhazia, South Ossetia and Tajikistan. MegaFon is a recognized market leader in the provision of mobile data services, was the first operator in Russia to launch commercial operation of a third generation (3G) network and was the first operator in the world to launch commercial operation of an LTE-Advanced (4G) data network. MegaFon is traded on the Moscow Exchange and the London Stock Exchange under the symbol MFON. Additional information about MegaFon and the products and services provided by MegaFon can be found at: http://www.megafon.ru.
Cautionary Statement Regarding Forward Looking Statements
Some of the information in this document may contain or refer to projections or other forward-looking statements regarding future events or the future financial performance of the Company. You can identify forward looking statements by terms such as “expect”, “believe”, “anticipate”, “estimate”, “forecast”, “intend”, “will”, “could”, “may”, or “might” the negative of such terms or other similar expressions. The Company wishes to caution you that these statements are only predictions, and are based upon various assumptions which are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control. We may not achieve or accomplish these plans or predictions. The Company does not necessarily intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in projections or forward-looking statements of the Company, including, among others, general economic conditions, the competitive environment, risks associated with operating in Russia, rapid technological and market change in the industries in which the Company operates, as well as many other risks specifically related to the Company and its business and operations.
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