Events might be turning in Nokia Siemens Networks' (NSN) favour following the announcement that it had secured a major contract, valued at €320 million, to supply equipment to MegaFon, the third largest operator in Russia.
NSN, which has been the centre of speculation since it was founded, has been awarded the three-year deal to provide network equipment capable of supporting speeds up to 7.2Mbps with the possibility of further increases up to 14Mbps. This will include EDGE and HSPA technology as well as integration and implementation services.
Late last year, MegaFon announced it would hold an IPO this year. The company is currently owned by TeliaSonera (35.6%), Telecominvest (31.3%), CT-Mobile (25.1%) and IPOC International Growth Fund (8%).