Telesystems Plans G3 Network.

Telesystems of Ukraine, which has a large network of regional licenses for CDMA telecommunication services, announced plans to build a G3 mobile network by 2007. The company said it plans to invest $160m in 2006. The company also plans to acquire another CDMA operator, CST-Invest. Telesystems plans to compete with Ukrtelecom (UTEL: BUY) in both fixed and mobile segments. Alexander Paraschiy: The amount of investments announced is not enough to seriously challenge either UTEL or the major mobile operators. Still, we expect Telesystems to become an increasingly important player in the telecom market.