The all-cash transaction, slated for completion by the end of this month, includes the assumption of debt. Chief Executive Kaan Terzioglu described the move as a direct investment in the nation’s digital future, signaling a strategic push to deepen the company's influence in the local market.

Integrating Rubicon’s assets will increase Veon’s spectrum holdings in Uzbekistan by roughly 50%. This expanded capacity is intended to accelerate broadband deployment and improve general network performance. Beyond immediate service upgrades, the company expects the acquisition to streamline future capital expenditures by consolidating network resources under a single operational umbrella.