Akin Gump Advises MegaFon on Uzbekistan Telecom Joint Venture
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(Moscow, Russia) – A team from Akin Gump has advised MegaFon, one of Russia’s leading telecom companies, in setting up a joint venture involving Uzbekistan’s leading mobile phone operator, Ucell.
Under the terms of the deal closed on September 29, 2021, the government of Uzbekistan transferred all of the authorized capital of Ucell into the joint venture, Digital Holding. MegaFon, together with its controlling shareholder, USM Telecom, has invested $100 million into Digital Holding, as well as USM’s Uzbek subsidiaries CRPT Turon and ICS Holding Uzbekistan.
Digital Holding aims to become a technological leader in the largest telecom market in Central Asia. It plans to upgrade Uzbekistan’s telecom infrastructure to meet international standards and expand access to communication services across the country. At the same time, it intends to introduce more-advanced technologies related to information security and data storage, digital labelling and goods tracking.
“The newly established joint venture has ambitious plans to become a technology leader in Central Asia,” commented Akin Gump partner Natalia Baratiants, “We are delighted to have assisted MegaFon in this groundbreaking joint venture.”
In addition to Natalia Baratiants, counsel Anna Semashko and junior associate Anna Pronina, all from Akin Gump’s Moscow office, advised on the deal.
Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 1,000 lawyers and advisors in offices throughout the United States, Europe, Asia and the Middle East.
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