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Buzton

Company


Owners:
Uzbectelecom - 100%

Content

Owners

Buzzton is an Uzbek fixed Internet and telephony operator that has been providing services under the Unitel brand since 2008. Founded in 1995, Buzzton is considered one of the first Internet service providers in Uzbekistan.

History

2022: Uzbectelecom bought a controlling stake in Buzzton from VimpelCom

At the end of March 2023, it became known about the sale of VimpelCom's stake in the Uzbek fixed Internet operator Buzzton. The buyer of the asset was Uzbectelecom.

According to TASS, citing VimpelCom's financial statements, the contract for the purchase of 55.37% in Buzton by Uzbectelecom from VimpelCom was concluded on December 30, 2022. The details of the agreement were not disclosed, and representatives of the Russian company did not comment at the request of the news agency.

The new owner of Buzzton was the company "Uzbectelecom"

According to the Unified State Register of Enterprises and Organizations (USRPO), as of March 29, 2023, Uzbectelecom owns 100% of the share in the authorized Buzton fund.

By March 2023, over the past years, Veon has been selling assets in countries that are not considered key. In particular, businesses in Pakistan, Armenia and Italy were sold.

In addition, the international structure of VimpelCom - Veon Holdings - by March 2023 has a subsidiary of Veon Uzb, owned by it by 99.99%. The decision to create it was made at the end of May 2021 at a meeting of shareholders of the company.[1]

2021: VimpelCom bought 55.37% of Buzzton

At the end of June 2021, it became known about the transfer of a controlling stake in Buzzton to the Russian VimpelCom. As Kommersant writes with reference to the SPARK-Interfax system, on March 31, 2021, VimpelCom received 55.37% of the Uzbek telecommunications company, which is a joint venture between Veon and the state operator Uzbectelecom.

According to the publication, the restructuring of assets in Uzbekistan, which, among other things, involves the creation of a subsidiary called Veon Uzb, is necessary for Veon to sell this business together with the Russian VimpelCom in the future.

VimpelCom bought 55.37% in the Uzbek operator Buzzton

Uzbek asset Veon has lost its leadership over the past year, slipping to third place in the country, iKS-Consulting analyst Maxim Savvatin told the newspaper.

The head of Content Review, Sergei Polovnikov, in a conversation with the publication, expressed the opinion that the transfer of the asset to Russian jurisdiction could allow Veon to improve its performance.

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In addition, in the past few years, the company has been selling business in countries that it does not consider key. In particular, Veon has already sold business in Pakistan, Armenia and Italy, he said.
File:Aquote2.png

According to MForum Analytics expert Aleksei Boyko, after the restructuring and reduction of the headquarters management at Veon, the functions of direct and partially strategic business management in different countries have shifted to the local level.

2004

In 2004, Golden Telecom received a 54% stake in Buzzton (later entered the Russian VimpelCom), having bought out a $2.8 million stake in the American NCI Projects, Inc. Another 43.52% of the company's shares remained with the state operator Uzbectelecom and 2.48% with NCI Projects.[2]

Notes