International digital operator VEON Ltd. has signed an agreement to purchase 100% of the shares of Rubicon Wireless, which operates in Uzbekistan under the brand Perfectum, for a sum of $207 million USD. According to VEON on October 19, 2026, this deal will strengthen the market position of Beeline Uzbekistan, expand the company's spectrum resources, and create new opportunities for developing broadband internet and 5G network services.
The total acquisition cost is approximately $207 million USD, including Perfectum's financial debt of about $93 million USD, which the buyer will assume. The transaction is expected to be completed by the end of October 2026. All necessary regulatory approvals have already been obtained, and the purchase financing will be provided from VEON's own funds.
Perfectum's assets include 115 MHz of radio frequency spectrum in the 850 MHz and 3800 MHz bands, as well as network equipment and telecommunications infrastructure. Among the company's assets is a 5G Standalone network built using Nokia equipment.
VEON forecasts that this deal will increase Beeline Uzbekistan's spectrum resources by approximately 50%. This will allow the operator to increase network coverage and capacity, as well as prepare the infrastructure for implementing fifth-generation mobile services. Furthermore, the merger of network assets is expected to support the development of 4G/LTE, fixed wireless access, and digital services.
The company plans to integrate Perfectum's infrastructure with the existing Beeline Uzbekistan network to improve the efficiency of future investments and achieve synergies in capital and operating expenditures. VEON links this acquisition to the growing demand for digital and financial services in Uzbekistan and expects the deal to expand opportunities for deploying sovereign augmented artificial intelligence solutions.
VEON CEO, Kaan Terzioglu, stated that Uzbekistan is one of VEON's key growth markets, and this acquisition reflects the company's confidence in the country's digital future. He noted that combining complementary spectrum resources and network assets will help improve connectivity and expand access to daily digital services for the population and businesses. He added that the company intends to direct investments towards improving customer service, increasing the efficiency of network investments, and ensuring sustainable business growth.
Beeline Uzbekistan CEO, Eugene Nastradin, emphasized that Perfectum's spectrum will supplement the operator's existing resources and help realize plans for expanding network coverage and capacity. He stated that the priority is the effective integration of these assets to provide tangible improvements to customers.
