Ukrtelecom To Invest UAH 1.1 Billion Into Development Of Networks In 2011

Ukrtelecom, the largest Ukrainian telecommunication company, intends to invest UAH 1.11 billion into development of its networks in 2011, board chairman of the company Heorhii Dzekon told the Delo newspaper.

According to the head of the company, 30-35% of the amount will be channeled for the development of mobile network.

Dzekon added that in 2010, the company planned to invest similar amount, however, only a half could be used.

He also said that in 2010, the company managed to increase the number of subscribers of broadband OGO Internet access by about 30% and as of early 2011, the number was 1.133 million users.

Dzekon also said that major investments in 2011 will be channeled for development of Internet segment.

As Ukrainian News earlier reported, Ukrtelecom ended 2009 at losses of UAH 456.426 million. The company’s net revenues increased by UAH 225.202 million or 3.39% to UAH 6,870.931 million, compared with 2008.

Ukrtelecom has a 78.5% share of the Ukrainian fixed-line telephony market and provides services to 9.9 million subscribers.

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