Digital services operator VEON Ltd. has officially announced an agreement to acquire 100% of the shares in Rubicon Wireless, a mobile network operator providing telecommunications services in Uzbekistan under the Perfectum brand. The transaction is set to reshape the competitive landscape of the local telecommunications sector.

As a result of the deal, the European-headquartered holding VEON will supposedly secure additional frequency resources and network infrastructure to complement its existing assets in the country. It is claimed that this integration will allow Beeline Uzbekistan to enhance connectivity, expand broadband access, and address the supposedly rising demand for digital and financial services.

Under the terms of the agreement, the total transaction value is estimated at approximately $207 million. This figure reportedly includes the assumption of Perfectum’s outstanding debt, which amounts to roughly $93 million, adding substantial financial commitments to the acquisition.

Perfectum's assets encompass 115 MHz of frequency spectrum across the 850 MHz and 3800 MHz bands, alongside modern infrastructure featuring a 5G Standalone (5G SA) network built on Nokia equipment. Industry analysts note that Beeline Uzbekistan's frequency portfolio is projected to expand by roughly 50% following the merger.

The cash portion of the transaction is slated to be financed through VEON's internal funds. Regulatory approvals have allegedly been secured, with the final closing of the acquisition expected by the end of October 2026.

Source: uznews.uz