| |  The Russian telecommunications company Mobile TeleSystems (MTS) forecasts that Russia's mobile services market will grow 2.3 times to $34.1bn by 2012 compared to 2006, President of MTS Leonid Melamed said at the 11th annual investor conference held by the Russian investment company Renaissance Capital.
Melamed added that mobile voice services would continue to have the largest share of the mobile market and would grow from the current $12.5bn to $26.5bn by 2012. Meanwhile, mobile broadband services market will expand to $3.4bn by 2012. MTS's chief also pointed out that Russian telecommunication companies would have to invest some $14bn-$15bn in the market to achieve a 15-percent annual growth.
"Alliance Media" News Agency, based on the story by RBC
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Russian mobile market to expand
