Tashkent, Uzbekistan (UzDaily.uz) — The State Assets Management Agency (AUGA) plans to complete the privatisation of 100% of the mobile operator Mobiuz (UMS) by the end of 2026.
Alisher Miraliev, deputy director of the agency, said this in an interview with Spot on the sidelines of the VIII Cbonds international conference "Capital Market of the Republic of Uzbekistan".
In June, a consortium of investors led by the US company McKim and Company, which won the bidding for Mobiuz, signed a memorandum on the privatisation of the operator. The two sides are currently agreeing the terms of the contract, while agreement on the transaction price has already been reached.
The consortium must pay US$351 million for 100% of Mobiuz and attract an additional US$500 million in investment to modernise telecommunications infrastructure and develop the network. The total volume of the transaction, including investment obligations, will therefore amount to US$851 million.
"Yes, an agreement has been signed to date. Talks on the terms of the contract are now under way. Agreement has been reached on the price component," Miraliev noted.
According to him, the talks are planned to be completed and the contract signed by the end of the current year. Management of Mobiuz will be transferred to the investor after the agreement is concluded and initial payments are made.
Miraliev also clarified that legislation allows a certain portion of the company's stake to be transferred as the investor fulfils payment obligations.
