BMI View: We introduced 3G forecasts for the first time into our report, following the launch of Rightel’s services in late 2011. Our estimates and forecasts highlight BMI’s belief that there is pent up demand in the market for 3G services. However, we believe there are considerable downside risks to the service’s outlook, with vocal opposition to the types of services available over 3G and international sanctions making network infrastructure expensive. The government holds a tight control on all areas of the market, and as such, network development lacks investment. That said, there is considerable potential for growth, if sanctions …
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