According to a Veon group press release, it has agreed to acquire 100% of Uzbek mobile operator Perfectum for $207 million, taking the target’s debt into account. The deal is expected to be completed by the end of October 2026.
Deal value and debt structure
The total value of the transaction is about $207 million, of which $93 million relates to the operator’s outstanding debt. The seller is Rubicon Wireless, which operates under the Perfectum brand.
The acquisition will be financed from Veon’s existing cash resources. The company has already obtained the necessary regulatory approvals.
Perfectum’s assets and 5G network
Perfectum’s assets include 115 MHz of radio-frequency spectrum in the 850 MHz and 3800 MHz bands, network equipment and infrastructure. The package also includes a 5G Standalone network built on Nokia equipment.
Implications for Beeline Uzbekistan and timeline
After completion of the deal, Beeline Uzbekistan, part of the Veon group, will increase its spectral resources by approximately 50%, which should expand coverage and network capacity and enable the development of 5G and fixed wireless broadband for households and businesses.
Veon expects that integrating Perfectum’s assets will allow more efficient infrastructure investment and reduce capital and operating expenditures. Uzbekistan, with a population of almost 40 million people, is one of the group’s key growth markets; the group operates in five countries and serves more than 150 million telecom subscribers and over 228 million users of digital services.
