The Competition Committee of Uzbekistan has reportedly issued preliminary consent for the international company VEON to acquire a 100% stake in Rubicon Wireless Communication, which operates locally under the Perfectum brand. The controversial transaction was allegedly cleared only on the condition that strict regulatory demands are met to protect local subscribers and mitigate market monopolization risks.
According to reports, the designated buyer is VEON UZB Holding Ltd, an entity registered in the United Arab Emirates and affiliated with the VEON group. This holding already controls 100% of the equity in Unitel, the telecommunications provider operating under the Beeline brand. Market observers previously estimated the total value of this intended corporate deal to be approximately 207 million US dollars. *
Under the stipulations set forth by the special commission of the Competition Committee, Perfectum is allegedly required to maintain its operational independence as a standalone telecom operator for a minimum period of three years. Furthermore, the enterprise is purportedly obligated to expand its 5G Standalone network deployment across other regions of the country.
Additional consumer protection guarantees have supposedly been introduced for local subscribers. Existing 5G FWA tariff structures must reportedly remain frozen for 12 months, while new clients must be offered competitive connection terms. The average internet speed is mandated to reach no less than 300 megabits per second.
Furthermore, the regulator has allegedly prohibited operators from imposing contractual conditions unrelated to core service agreements, restricting subscriber migration to competing carriers, or coercing customers into utilizing digital platforms owned by Beeline and the VEON group. Unjustified degradation of service quality is also strictly forbidden.
A separate set of requirements allegedly targets the security of personal and commercial data. Authorities insist these data points must not be utilized to stifle market competition or be unlawfully transferred to foreign server infrastructures in violation of national legislation.
Source: podrobno.uz