VEON has received preliminary approval from the Uzbekistan Competition Committee to acquire a hundred percent stake in Rubicon Wireless Communication, which operates in the country under the trade name Perfectum. This approval was granted on the condition that Perfectum maintains its independence for at least three years and fulfills several other regulatory requirements aimed at ensuring subscriber protection and maintaining competition in the communications market.
The buyer is VEON UZB Holding Ltd, a company registered in the UAE and part of the VEON group. This entity already owns all shares in the charter capital of Unitel, which provides mobile communication services under the Beeline brand. The estimated value of this deal was previously around $207 million.
Perfectum's Operational Requirements
According to the resolution of the Competition Committee's special commission, Perfectum is obliged to continue operating as an independent operator for a minimum period of three years. Furthermore, the company must begin expanding its 5G Standalone network to other territories of Uzbekistan.
Additional guarantees were established to protect subscribers' interests. Existing tariffs for 5G FWA users must remain unchanged for twelve months, and attractive connection conditions are offered to new customers. A requirement was also set that the average internet speed must not fall below 300 megabits per second.
Operators are prohibited from imposing any terms on clients that are unrelated to the contract, hindering subscribers' transition to other mobile operators, or forcing them to use Beeline and VEON group digital platforms. It is also forbidden to unreasonably degrade the quality of service.
Specific provisions concern the protection of confidential and commercial data. This data cannot be used to restrict competition or transferred to foreign servers in violation of current laws.
The Committee emphasized that fulfilling all these conditions is a necessary prerequisite for protecting consumer rights and maintaining a healthy competitive environment in the telecommunications market.