The Government of Uzbekistan has started selling one of the most significant assets in the telecommunications sector — Universal Mobile Systems, a mobile operator operating under the Mobiuz brand. A 100% state share in the company has been put up for an open international competition. The expected value of the deal, according to sources, is approaching $ 300 million.
Investors from Qatar, Saudi Arabia, Azerbaijan and a number of European countries are already showing interest in the asset. The increased interest in the deal is explained by Mobiuz's strong position in the domestic market: with a subscriber base of 7.8 million users, the company holds a share of 20.9 percent of the total number of mobile connections in Uzbekistan. By the end of 2024, there were almost 36 million active subscribers in the country.
Mobiuz's financial performance for 2024 confirms its attractiveness to strategic investors. The company's net revenue amounted to 2.086 trillion soums (about $ 164 million), and EBITDA reached $ 41 million, which indicates a high profitability of the business in the current market environment.
The privatization is organized by the State Asset Management Agency. The process is implemented with the participation of the investment bank Rothschild & Co, acting as a strategic consultant. Financial support of the transaction is provided by KPMG. Applications will be accepted on August 1. The open international sales format demonstrates Tashkent's desire to increase the transparency and competitiveness of privatization processes.
The history of the UMS operator reflects the transformation of the state approach to digital infrastructure. Founded as part of a partnership between Uzbekistan and the Russian MTS, the operator later came under the full control of the Uzbek side. In 2018, the asset was transferred to the Digital Trust state Fund, and in 2021 it came under the control of the Ministry for the Development of Information Technologies and Communications. The plan to transfer UMS to private hands was announced by President Shavkat Mirziyoyev back in 2022 as part of a course to reduce state participation in the economy.
The privatization of Mobiuz is seen as an important step in developing a competitive communications environment dominated by several major players. The deal can not only attract significant foreign investment, but also set new performance standards for the entire digital services sector in the country. In the context of accelerating digital transformation, Uzbekistan relies on private capital as a driver of growth and innovation.
Against the background of active modernization of the telecom infrastructure and introduction of new communication standards, the transfer of Mobiuz to private hands can become a growth point not only for the company, but also for the market as a whole. The participation of international strategic investors can strengthen the technological base and expand the range of services provided, as well as stimulate the export of digital solutions from Uzbekistan.
