11 Jun 2018
Amsterdam-headquartered, Russian-backed VEON announced on Friday that it has completed the sale of Tacom, its subsidiary in Tajikistan operating mobile services under the Beeline brand, to its local investment partner ZET Mobile Ltd. Under the deal agreed in April, VEON sold British Virgin Islands-registered Vimpelcom AG, the holder of 98% of Tacom shares, to ZET Mobile which already owned the other 2%. As previously reported by CommsUpdate, the Beeline brand will be retained locally despite the change of ownership. VEON had been looking at an exit from Tajikistan’s mobile sector since early 2017 over concerns at the country’s erratic taxation system, which has badly impacted on profitability in recent years. Beeline sits in fourth place in the Tajik cellular market, behind Tcell, Babilon-M and MegaFon.