Telecom operators Rostelecom PJSC, MegaFon, Mobile TeleSystems PJSC and Vimpelcom agreed to jointly develop and enhance the use of 5G networks in Russia.
The agreement includes an option to create a joint venture, in which the companies will hold an equal stake. The venture will not operate as a separate telco, and will focus on freeing up spectrum and looking for other frequency bands that can host 5G services. The operators will also be able to use spectrum allocated to the joint venture.
The companies are working to secure legal requirements, such as corporate and regulatory approvals, for their joint venture.
Rostelecom and MegaFon have an existing 5G development tie-up.