The Competition Development and Consumer Protection Committee of Uzbekistan has reportedly granted preliminary approval for the acquisition of a 100 percent stake in Rubicon Wireless Communication JSC, which provides mobile services under the Perfectum brand.

The buyer is VEON UZB Holding Ltd, an entity registered in the United Arab Emirates and affiliated with the international telecommunications group VEON. It is worth noting that this same holding allegedly already owns a 100 percent stake in Unitel LLC, operating in the local market under the Beeline brand.

The committee’s special commission reviewed the transaction from an economic concentration perspective and cleared it subject to a series of mandatory conditions allegedly aimed at preserving market competition. The participants are expected to strictly comply with local antimonopoly legislation.

Earlier, the VEON international group announced an agreement to acquire all shares of Rubicon Wireless for an estimated total value of $207 million, which includes the operator's financial debts. According to the buyer's projections, the deal is supposed to expand Beeline Uzbekistan's frequency resources and accelerate its network development.

Source: www.gazeta.uz