Solan Communication buys Uzbekistan public phone co for $5m

Solan Communication buys Uzbekistan public phone co for $5m

Globes
October 20
Solan Communication and Computers recently acquired 75% of Tashkent Taxsophony from Uzbek Telecom, Uzbekistan's public telephone company. Solan has been active in the post-Soviet republics for several years.
The deal follows Solan's deal from six months ago to install a billing system in Tashkent Taxsophony. The deal is reportedly worth $5 million, including the billing and control system installed by Solan.
Uzbek Telecom is Uzbekistan's communications monopoly. The company is similar in size to Bezeq (TASE:BZEQ). It will continue to own 25% of Tashkent Taxsophony, which currently operates 1,500 obsolete model public telephones.
Solan plans to invest $15 million to buy 30,000 smart public telephones over the next three years.
Uzbekistan has 30 million people, of whom only 1.5 million have a telephone at home and 150,000 have a cellular telephone.
Solan Communications CEO Jacob Solan said these figures indicate the great potential for public telephones in Uzbekistan in the coming years. He estimated Solan's revenue from the deal at $60 million.