Russian market growth predictions

Russia’s mobile market is likely to be worth $34.1 billion (€25.4 billion) by 2012, while the value of the broadband services it provides should amount to $3.4 billion. Both forecasts were made by Leonid Melamed, the president of the country’s leading mobile operator MTS, speaking at a conference organised by the Russian investment company Renaissance Capital. Separately, MTS’s backer Sistema, whose other interests include Comstar UTS, has said it aims to double its market value to $25 billion by the end of 2008.