VEON Ltd. acquires Rubicon Wireless (operating as Perfectum, Uzbekistan)
- Acquirer
- VEON Ltd.
- Target
- Rubicon Wireless (operating as Perfectum, Uzbekistan)
- Deal Value
- $207M
- Market
- Uzbekistan
- Region
- Asia Pacific
- Status
- Announced
- Announced
- October 19, 2026
What happened
VEON announced it has agreed to acquire 100% of Rubicon Wireless (Perfectum) for approximately $207 million, inclusive of ~ $93 million of Perfectum’s outstanding financial debt. VEON said the assets include ~115 MHz of spectrum (850 MHz and 3,800 MHz bands), modern network equipment and a Nokia-deployed 5G standalone network; completion was expected by end-October 2026.
Why it matters
A bolt-on that increases Beeline Uzbekistan’s spectrum holdings by roughly 50% and brings standalone 5G capacity, this deal accelerates market consolidation and lets VEON densify coverage/capacity faster than organic build — a pattern repeated across emerging markets where spectrum and deployed RAN are being acquired. It highlights operators’ continued preference for buying deployed spectrum/RAN to speed 5G rollouts.
Source: VEON press release (company newsroom)
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