【出版时间及名称】：2010年2月俄罗斯电信行业研究报告
        【作者】：VTB  Capital
        【文件格式】：pdf
        【页数】：56
        【目录或简介】：

Table of contents ............................................................................... 2
Investment summary ......................................................................... 7
Valuation and Risks ........................................................................... 9
Macroeconomic outlook .................................................................. 15
Russian Mobile Top-line Growth Potential – The Way Down
Illustrates the Way Up ..................................................................... 17
Value added services (VAS) – a forthcoming theme ....................... 25
Retail business ............................................................................. 26
Margins Development ..................................................................... 30
Broadband story .............................................................................. 36
Fixed-line broadband market growth potential .............................. 37
Wireless broadband ...................................................................... 38
Broadband market composition .................................................... 41
Vimpelcom and MTS/Comstar UTS
fixed-line revenues’ growth potential ............................................ 43
Other important valuation drivers .................................................... 46
Disclosures ..................................................................................... 54
VTB Capital — Equity rating definitions .......................................... 54