VEON agrees to buy Perfectum mobile operator in Uzbekistan for $207 million
VEON has agreed to acquire 100% of Rubicon Wireless, which trades as Perfectum, for about $207 million including debt. Completion is expected by the end of October.
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what happened
VEON, the group behind the Beeline brand in Uzbekistan, has announced an agreement to acquire 100% of Rubicon Wireless, a mobile network operator trading as Perfectum. The total consideration is about $207 million, including roughly $93 million of Perfectum's outstanding financial debt that the buyer will assume.
According to VEON, Perfectum's assets include 115 MHz of spectrum in the 850 MHz and 3,800 MHz bands and a 5G standalone network built on Nokia equipment. VEON expects Beeline Uzbekistan's spectrum holdings to rise by about 50%. The cash portion will be paid from VEON's existing resources. Relevant regulatory approvals have been obtained, and completion is expected by the end of October.
why it matters
The deal looks like a targeted strengthening of VEON's position in one of its core markets. For investors it matters mainly as an example of consolidation in Uzbekistan's telecom sector, where demand for 5G and broadband is already growing, rather than as an event likely to move markets broadly.
market impact
VEON: the purchase adds spectrum and assets in Uzbekistan, with limited effect on the wider group
tags
instruments
sources
- VEON Accelerates Telecom Market Consolidation in Uzbekistan, a Market of Nearly 40 Million People — globenewswire.com, 19 October 2026 at 10:05 UTC
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