Veon has acquired 100% of the Uzbek mobile operator Rubicon Wireless for $207 million. The deal includes $93 million in debt. This acquisition allows Veon to increase its radio frequency spectrum in Uzbekistan by 50%, strengthening its 5G infrastructure.
Rubicon Wireless operates a standalone 5G network built on Nokia equipment in the 3.8 GHz band. The operator also holds frequencies in the 800 MHz band, totaling 115 MHz. The company currently serves 100,000 subscribers, while the total market penetration in Uzbekistan reached 93.5% by the end of 2025.
Veon operates in Uzbekistan through its subsidiary Unitel, which provides services under the Beeline brand. Unitel currently ranks third in the market with 7.6 million subscribers. The acquisition of Rubicon Wireless is expected to provide additional resources for the expansion of Veon's 5G services in the region.
