Tashkent, Uzbekistan (UzDaily.com) — The Competition Development Committee has reviewed the application submitted by TBC Bank Group PLC, a UK‑registered company and part of the TBC Bank Group, to acquire a 46.67 percent stake in Shoppe Group LLC JV, the operator of the digital platform Billz.

TBC Bank Group PLC is a holding company, while Shoppe Group manages Billz — a platform providing cloud‑based retail and inventory management services, along with e‑commerce tools. Notably, TBC Bank Group PLC already indirectly owns TBC Bank and the digital payment service Payme.

Following an analysis conducted by the Committee’s Special Commission, the deal received preliminary approval. At the same time, the Committee imposed mandatory competition‑safeguarding conditions. Specifically, TBC Bank Group is prohibited from exerting unilateral or unjustified influence over Billz’s service terms for current and future users, including businesses competing with TBC Bank and Payme.

The group is also barred from using or disclosing client data collected through Billz if such data concerns competitors of TBC Bank JSCB and Payme JSC, or contains personal and commercial information that could restrict competition or strengthen the market position of these entities.

The Committee emphasized the need for strict compliance with Article 18 of the Law “On Competition” and Clause 19 of the Regulation approved by the Cabinet of Ministers’ Resolution No. 256 of May 1, 2024. Compliance with these requirements is set as a binding condition for the transaction.

Earlier reports indicated that TBC Bank Group will acquire 53 percent of Billz shares for US$9 million, with plans to increase its stake to 60 percent within two years. Following the deal, Billz’s valuation could reach US$20 million.

The Billz platform will be fully integrated into the digital banking ecosystem of TBC Uzbekistan while retaining its own brand. Its current leadership and team will continue managing the company, expanding existing services and developing new solutions.