MOSCOW, March 3, 2011 /PRNewswire/ --
- Rival Operators Buy-Into Yota's Vision of the Future of Telecoms
Yota, the Russian mobile broadband company, has today signed a deal with the country's main network operators that will place Russia at the forefront of the development of 4G telecoms services.
The deal will see Yota become the 4G network provider for the Russian telecoms market and guarantee the roll-out of its LTE network to cover 180 cities with a total population of more than 70 million citizens by 2014.
Prime Minister Vladimir Putin witnessed the signing of this landmark agreement by the heads of the leading Russian telecoms operators at Yota's Moscow office.
The agreement will see the country's major network operators - Beeline, Megafon, MTS and Rostelekom - working with Yota to offer 4G services over its network. The deal provides each of the participants with an option to buy shares in Yota in 2014 and sees the realization of Yota's vision of the future of telecoms: the ability to offer open infrastructure to competing service providers.
State corporation Russian Technologies supported the agreement in a bid to ensure an efficient and collaborative approach to rolling-out 4G services. The deal is a major boost to the Russian economy; businesses will avoid costly duplication of infrastructure investment and millions of Russian consumers will benefit from faster access to 4G services and lower prices.
In just three years, Yota has gone from being a start-up company to become a leading visionary in the telecoms sector. This new arrangement places Yota at the heart of Russia's 4G strategy and provides a model for the industry that can be rolled-out across the world.
Yota CEO Dennis Sverdlov comments, "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."
For further information, please contact: Jo Jamieson, Bell Pottinger: +44(0)20-7861-2831 / +44(0)77-9525-4572 Simon Walsh, Bell Pottinger: +44(0)782-4473-861 email@example.com
About Yota: http://www.yota.ru/