VEON Ltd. agrees to acquire Rubicon Wireless in Uzbekistan
2 companies named across 7 categories, one of 8 articles referencing VEON. Previous coverage: AI governance, networking and telecom updates - Week of October 12, 2026 (Oct 2026).
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VEON Ltd. has agreed to acquire 100% of Rubicon Wireless, the mobile network operator that trades under the Perfectum brand in Uzbekistan. The transaction will bring complementary spectrum and network assets into VEON’s Uzbekistan operations, a move that will strengthen Beeline Uzbekistan’s ability to deliver better connectivity and expand broadband access.
The transaction reinforces VEON’s long-term commitment to Uzbekistan, which the company counts among its core growth markets, and adds to investment in the country’s telecommunications infrastructure. It is also tied to growing demand for digital services, financial services and sovereign augmented intelligence, alongside the country’s strong economic growth and ongoing modernization.
Perfectum holds 115 MHz of spectrum across the 850 MHz and 3,800 MHz bands, together with modern network equipment and infrastructure. Its assets include a 5G standalone network deployed with Nokia equipment. The transaction is expected to raise Beeline Uzbekistan’s spectrum holdings by about 50%, supporting network coverage, capacity and the continued development of its 4G/LTE network, future 5G services and fixed wireless access.
Total consideration is approximately USD 207 million, including about USD 93 million of Perfectum’s outstanding financial debt, and the cash portion will come from VEON’s existing cash resources. Regulatory approvals have been obtained, with completion expected by the end of October. Integration with Beeline Uzbekistan’s existing network is expected to generate capital and operating expenditure synergies and improve the efficiency of future network investment.
“Uzbekistan is one of VEON’s core growth markets, and this acquisition reflects our confidence in its digital future,” said Kaan Terzioglu, Group Chief Executive Officer of VEON. “By combining complementary spectrum and network assets, we can deliver better connectivity and expand access to the digital services people and businesses use every day.”
“This acquisition gives us additional resources to meet our customers’ growing connectivity needs,” said Yevgeniy Nastradin, CEO of Beeline Uzbekistan. Forward-looking statements in this release, including those on VEON’s performance and strategic ambitions in Uzbekistan, involve risks and uncertainties that could cause actual results to differ materially, and they speak only as of the release date.
Press release, provided by Globe Newswire on behalf of VEON. Read the original.