VEON to Acquire Perfectum in Uzbekistan for $207M
VEON Ltd. announced an agreement to acquire 100% of Perfectum, a mobile network operator in Uzbekistan, for approximately USD 207 million, including USD 93 million in assumed debt. This strategic acquisition aims to strengthen Beeline Uzbekistan's competitive position by adding complementary spectrum and network assets, including 115 MHz of spectrum and a 5G network. The deal is expected to enhance Beeline Uzbekistan's ability to deliver better connectivity, expand broadband access, and support the country's demand for digital services. VEON expects the transaction to increase Beeline Uzbekistan's spectrum holdings by about 50% and generate synergies. The acquisition is funded by existing cash resources, and regulatory approvals have been obtained, with completion anticipated by the end of October.
Key Highlights
- VEON Ltd. agrees to acquire 100% of Perfectum (Rubicon Wireless) in Uzbekistan for approximately USD 207 million.
- Acquisition includes assumption of Perfectum's outstanding financial debt of approximately USD 93 million.
- Perfectum's assets include 115 MHz of spectrum across 850 MHz and 3,800 MHz bands, and a 5G standalone network.
- Transaction expected to increase Beeline Uzbekistan's spectrum holdings by approximately 50%.
- Acquisition reinforces VEON's commitment to Uzbekistan, a core growth market.
- Cash consideration to be funded from VEON's existing cash resources.
- Relevant regulatory approvals obtained; completion expected by end of October.
Price Impact
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