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Russia's Big 3 mobile operator MegaFon has postponed its IPO on the LSE stock exchange in London again, Vedomosti reported today, citing two people close to the process. The reason for the postponement is the poor markets, which could prevent MegaFon from getting a high valuation.
The IPO was scheduled for July, but has now been postponed to September.
Also MegaFon is expected to add up to 200,000 4G LTE subscribers by late-2012, up from the current several tens of thousands, MegaFon's deputy general director Mikhail Dubin told reporters.
MegaFon launched its LTE offering as a MVNO operator in May 2012, and initially expected to have up to 50,000 subscribers by the end of the year.
Dubin went on to say that most LTE subscribers are located in Moscow, where 4G Internet traffic is expected to exceed 3G traffic in the first six months of 2013.