VEON To Acquire 100% Of Uzbekistan Mobile Operator Rubicon Wireless, Trading Under 'Perfectum' Brand, For $207M

The acquisition will bring complementary spectrum and network assets into VEON’s operations in Uzbekistan, strengthening Beeline Uzbekistan’s ability to deliver better connectivity, expand broadband access and support the country’s growing demand for digital services, financial services and sovereign augmented intelligence further contributing to the strong economic growth and ongoing  modernization of the Uzbekistan’s economy.

Under the terms of the agreement, the total consideration is approximately USD 207 million inclusive of the assumed Perfectum's outstanding financial debt of approximately USD 93 million.

The acquisition reinforces VEON's long-term commitment to Uzbekistan, one of the Company's core growth markets, and represents a further investment in the country's telecommunications infrastructure. It strengthens VEON’s spectrum portfolio in the country and supports the continued development of its 4G/LTE network, future 5G services and fixed wireless access offering.

Perfectum’s assets include 115 MHz of spectrum across the 850 MHz and 3,800 MHz bands, together with modern network equipment and infrastructure assets, including a 5G standalone network deployed using Nokia equipment. The transaction is expected to increase Beeline Uzbekistan’s spectrum holdings by approximately 50%, providing additional resources to enhance network coverage and capacity and support its roadmap for 5G and fixed wireless access services.

The combination is also expected to improve the efficiency of future network investment and generate capital and operating expenditure synergies through integration with Beeline Uzbekistan’s existing network.