Dentons advises VEON on acquisition of Perfectum in Uzbekistan

Tashkent-Global law firm Dentons has acted as Uzbek legal counsel to VEON on its agreement to acquire 100% of Rubicon Wireless, the mobile network operator trading under the Perfectum brand in Uzbekistan.

The transaction will bring Perfectum's 115MHz of spectrum, along with its network and infrastructure assets into VEON's operations in Uzbekistan, strengthening Beeline's position in Uzbekistan's telecommunications market. The acquisition supports the continued development of Beeline Uzbekistan's 4G/LTE network, future 5G services and fixed wireless access offering, which provides broadband connectivity through mobile network infrastructure.

The total consideration for the acquisition is approximately US$207 million, including the assumption of Perfectum's outstanding financial debt of approximately US$93 million.

Dentons provided Uzbek law advice on all matters of the deal, including legal due diligence, regulatory approvals, transaction documents and deal completion. Partner Ulugbek Abdullaev led the Dentons legal team, with support from Senior Associates Latofat Rakhmanova, Islombek Baratov and Salohiddin Parmonov, and Associate Mekhriniso Djumanazarova.

Ulugbek Abdullaev, Partner at Dentons, commented: "We are pleased to have advised VEON on this important transaction in Uzbekistan's telecommunications sector. The acquisition brings together complementary spectrum and network assets and represents a further investment in the country's digital infrastructure. It also reflects the continued development of Uzbekistan's telecommunications market and the increasing importance of reliable, high-capacity connectivity for consumers, businesses and digital services."

VEON is a global digital operator and the parent company of Beeline Uzbekistan. Perfectum is a mobile network operator in Uzbekistan operated by Rubicon Wireless.

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