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Russia's MegaFon registers subsidiary for subsea link project

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Russia's MegaFon registers subsidiary for subsea link project

MegaFon registered its subsidiary Arctic Link Rus on behalf of the Russia operator's wholly owned unit MF Digital, Telecompaper reported Jan. 15, citing Comnews.ru.

Alexander Vlasov will lead the new MegaFon subsidiary as CEO.

The formation of the subsidiary is in line with its Arctic Connect project, which will focus on the deployment of an 11,500-kilometer subsea link from Japan to Norway. MegaFon announced a closed tender for the subsea link project, which is in partnership with Finland's Cinia Oy.

MegaFon's management council previously approved the acquisition of about 50% voting shares in Arctic Link Development Oy, a joint venture between MegaFon and Cinia that focuses on preparations for the project.