MOSCOW—Lukoil Co. is negotiating a wireless license with the communications ministry of neighboring Moldova and is also eyeing the Ukrainian and Romanian markets.
The Lukoil Company will begin operations in Moldova through its Telemedia Group Company, which is already constructing a network in the republic.
The director general of the Lukoil-Moldova subsidiary, Nikolai Cherny, said Lukoil is planning to invest US$40 million to US$60 million in its Moldovan communication projects in the next three years and the costs would be recouped in five to seven years.
“We shall offer services not only in Moldova, but also in Ukraine and Romania,” Cherny said.
Moldova has two operating carriers, the French Voxtel and the Turkish Moldcell, with a total of 300,000 subscribers. Although the ailing domestic economy causes average monthly wages of only US$20 to US$30, “Lukoil believes telecommunications to be a very profitable and promising business even in a poor country,” the Vedomosti newspaper commented.
Lukoil seeks wireless license in Moldova
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