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. Last Updated: 07/27/2016

Comstar Seeks $10Bln Value

Fixed-line telecoms operator Comstar is seeking a market value of $10 billion by 2011 and counts on rapid development of the broadband market, Vedomosti reported Thursday.

Vedomosti quoted Comstar's president Sergei Pridantsev as saying a new strategy, to run through 2011 and focusing mainly on increasing the company's share of the broadband market, would be discussed at the next board meeting.

"After implementation of this strategy the value of Comstar should be $10 billion," Pridantsev was quoted as saying.

Comstar currently has a market capitalization of $4.45 billion, Vedomosti said.

Pridantsev earlier said Comstar was targeting a 50 percent share of Moscow's broadband market by 2011.

"We proceed on the assumption that we can't lose the Moscow market, where situation will be in many respects defined by the development of a broadband access," Pridantsev said.