VEON agrees to buy Uzbekistan's Perfectum in approximately $207 million deal

VEON has agreed to acquire 100% of Rubicon Wireless, the operator trading as Perfectum in Uzbekistan, for approximately $207 million including around $93 million of assumed debt.

The company said relevant regulatory approvals had been obtained and completion was expected by the end of October 2026. VEON will fund the cash portion from its existing resources.

Perfectum's assets include 115 MHz of spectrum in the 850 and 3800 MHz bands, network equipment and telecommunications infrastructure. The operator has a 5G standalone network built using Nokia equipment.

VEON estimates the acquisition will increase Beeline Uzbekistan's spectrum holdings by approximately 50%. It plans to use the assets to expand coverage and capacity on its 4G/LTE network, develop 5G services and extend fixed wireless broadband access for households and businesses.

The company also expects integration with Beeline Uzbekistan's existing network to reduce future capital and operating expenditure.