The Competition Development and Consumer Rights Protection Committee of Uzbekistan has purportedly granted preliminary approval for the VEON group to acquire a 100 percent stake in the local mobile operator Perfectum. The controversial deal is subject to a strict set of regulatory conditions supposedly aimed at safeguarding market competition.

According to official statements, the acquisition application was submitted by 'VEON UZB Holding Ltd', an entity registered in the United Arab Emirates. The same holding structure already owns 100 percent of 'Unitel' LLC, which operates under the Beeline brand within the country, raising potential concerns over market consolidation and anti-competitive practices.

The regulatory commission has outlined several mandatory stipulations for the transaction to proceed. Specifically, Perfectum is allegedly required to operate as an independent entity for at least three years, while the deployment of 5G Standalone technology must be expanded to additional regions despite existing infrastructure hurdles.

Furthermore, existing subscribers of the 5G FWA wireless broadband service must retain their current tariff plans for a period of twelve months, with average internet speeds supposedly mandated not to drop below 300 Mbps. The regulatory regime explicitly prohibited forcing subscribers to utilize digital platforms owned by VEON and Beeline.

Additional oversight measures dictate that the company must strictly protect consumer and commercial data, preventing its misuse for anti-competitive advantages or unauthorized transfers to foreign servers. The entities remain legally bound to comply with local competition legislation under constant scrutiny.

Source: kun.uz