The State Assets Management Agency of Uzbekistan has published the latest information regarding the privatization process of the mobile operator “Universal Mobile Systems” (Mobiuz). This was reported by Zamin.uz.
In the mass sale process that began in June, KPMG and Rothschild & Co companies were engaged as strategic and financial advisors. They conducted negotiations with over one hundred potential investors over two months.
As of 18:00 (Tashkent time) on August 1, 2025, a total of 15 foreign and local companies from the USA, Europe, Arab countries, the Middle East, the Caucasus, Eastern and Central Asia regions expressed interest in purchasing the asset. All applications were reviewed based on established criteria.
They were evaluated on the adequacy of financial capabilities, absence of legal obstacles, compliance with anti-money laundering and counter-terrorism financing legislation, as well as not being on international financial institutions' sanctions lists and not having the status of a state company. Participants meeting the requirements will proceed to the next stage of the tender — submission of non-binding offers.
After signing a non-disclosure agreement with them, an information memorandum and additional details about the asset will be provided. Non-binding offers will be accepted until 23:59 on October 15, 2025.
Mobiuz is the fourth largest mobile operator in Uzbekistan. According to Fitch Solutions data, by the end of 2024, the total number of mobile subscribers in the country reached 35.6 million, of which 20.9 percent belong to Mobiuz.
The company recorded a net income of 164 million USD and an EBITA of 41 million USD in 2024. The privatization process was announced in June 2025.
In the initial stage, several investors from Qatar, Saudi Arabia, Azerbaijan, and Europe showed interest. According to Bloomberg, the government aims to raise about 300 million USD from the sale of Mobiuz.
The State Assets Management Agency has not directly commented on this matter but has published the main theses on its official channels. Although the editorial team of Kun.uz sent several questions to the agency, no response has been received so far.
Among these questions are the purpose of Bloomberg’s theses, the exact price of Mobiuz, whether there are additional conditions for potential buyers such as investment, service quality, and job preservation, the specific roles of Rothschild & Co, and how the 2013 confiscation and nationalization related to MTS are being explained to foreign investors (source: zamin.uz).
