Global digital operator Veon – which owns Beeline Uzbekistan – said that it has struck a deal to buy rival telco Rubicon Wireless, which operates under the “Perfectum” brand, for US$207 million.
Under the deal terms, Veon will acquire 100% of Perfectum. The US$207 million figure includes Perfectum's outstanding financial debt of approximately US$93 million. The cash consideration will be funded from Veon’s existing cash resources.
Veon intends to combine Perfectum’s spectrum and network assets with Beeline Uzbekistan to deliver better connectivity, expand broadband access and support Uzbekistan’s growing demand for digital services, financial services and sovereign AI.
That includes 115 MHz of spectrum across the 850-MHz and 3800-MHz bands, together with modern network equipment and infrastructure assets, including a 5G standalone network deployed using Nokia equipment.
Veon said 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, said Beeline Uzbekistan CEO Yevgeniy Nastradin.
“Our priority is to integrate these assets effectively and translate them into tangible improvements for our customers,” he said in a statement.
Veon Group CEO Kaan Terzioglu added that the combination will enable Beeline Uzbekistan to “deliver better connectivity and expand access to the digital services people and businesses use every day.”
