Competition Returning To Turkmenistan

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Turkmenistan's subscribers may see competition return to the mobile market within three-four months as Russian mobile operator MTS prepares to resume operations. The mobile market was reduced to a government controlled monopoly operator in December 2010 when the Turkmen government suspended MTS' licence. BMI believes the return of competition to Turkmenistan's mobile market is a positive sign, although we believe there are still risks ahead.