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. Last Updated: 07/27/2016

25% Stake In Delta Up for Sale

St. Petersburg-based telecoms company Telecominvest intends to sell its 25 percent stake in Delta Telecom, the country's oldest cellular operator, Telecominvest said Tuesday.

Telecominvest has not yet found a buyer for Delta, which has 13 percent of the St. Petersburg market, or 120,000 subscribers, according to United Financial Group research.

Delta's other shareholders include Petersburg Telephone Network with 43.1 percent and MCT Corp. of the United States with 31.9 percent.

The company has operated in the outdated non-digital NMT-450 standard for more than 10 years. Last November, the operator received permission from the Communications Ministry to build a test network for the modern CDMA-450 digital standard.

Delta plans to start building the testing network, which is to cover the northern part of St. Petersburg, in February, said company spokeswoman Maria Bystrova, who added that Delta hopes to get the ministry's permission to build a commercial CDMA-450 network in the region by early summer.