Telecoms group announced the sale of BVI-registered subsidiary

Telecommunications group VEON has agreed to sell its Beeline-branded mobile operating subsidiary in Tajikistan to local investment partners. The group has signed an agreement on the sale of British Virgin Islands-registered Vimpelcom AG, which owns 98 percent of Tajikistan’s mobile operating subsidiary Tacom to ZET Mobile Limited. Currently this company holds 2 percent stake in the mobile operator. The completion of the deal is dependent on regulatory approval.

Previously it was confirmed that Beeline will be retained locally despite any change of ownership. Currently the brand is in fourth place in the Tajikistan’s cellular market.

VEON group, which is headquartered in Netherlands, has been planning an exit from Tajikistan’s mobile sector for more than a year, over concerns at the country’s taxation system.