BAKU, Azerbaijan, Sept. 30
By Fakhri Vakilov – Trend:
Russian telecommunication companies USM Telecom and MegaFon, together with partners from Uzbekistan, completed the formation of a joint venture Digital Holding on September 29, Trend reports citing the press service of the Uzbek mobile operator Ucell.
On September 30, the final package of documents on the creation of a joint venture was signed at the Agency for State Assets Management of Uzbekistan.
The activities of Digital Holding will be aimed at expanding access and improving the quality of telecommunications services in Uzbekistan, in particular, through the formation of digital infrastructure in accordance with international standards.
The company also intends to introduce advanced technologies and systems in the fields of data storage and processing, digital marking, and control of the movement of certain types of goods.
The joint venture includes 100 percent of the authorized capital of the telecom operator Ucell and USM subsidiaries - CRPT Turon and ICS Holding Uzbekistan. The Russian side will also direct $100 million of investments to the development of Digital Holding.
Digital Invest, a joint venture between MegaFon and USM Telecom, will own 51 percent of the Digital Holding, and State Asset Management Agency of Uzbekistan will own 49 percent.
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