VEON Buys Uzbekistan's Perfectum for $207M to Add 5G Spectrum
VEON sits 95% above its 52-week low of $42.6.
Summary
VEON agreed to acquire 100% of Rubicon Wireless, which operates as Perfectum in Uzbekistan, for about $207M including roughly $93M of assumed debt. The deal adds 115 MHz of spectrum in the 850 MHz and 3,800 MHz bands, lifting Beeline Uzbekistan's spectrum holdings by about 50% and bringing a Nokia-built 5G standalone network. VEON is paying cash from its balance sheet, and regulatory approvals are already in hand, with closing expected by the end of October. The size is modest against VEON's roughly $5.3B market cap, but it deepens the company's position in one of its core growth markets and should lower future network build costs through integration. BLNE is not a party to this transaction.
At the time of this announcement, VEON was trading at $83.20 on NASDAQ in the Technology sector, with a market capitalization of approximately $5.3B. The 52-week trading range was $42.60 to $85.27. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.