Ten Non-Binding Bids Submitted for the Sale of MobiUz

Tashkent, Uzbekistan (UzDaily.com) — As part of the international privatization process of the mobile operator MobiUz (Universal Mobile Systems LLC), ten non-binding price offers have been received, the Agency for State Asset Management reported.

The process for the sale of the state’s 100% stake in the company was announced on 14 August. Rothschild & Co serves as the strategic and financial advisor, KPMG as the financial and legal consultant, and Deloitte as the independent appraiser.

At the first stage of expressions of interest (EoI), 15 companies from the United States, Europe, Arab countries, the Middle East, the Caucasus, and East and Central Asia submitted applications. All were admitted to the next stage — submission of non-binding offers (NBO). Later, another foreign company joined the process.

Candidates that signed non-disclosure agreements gained access to a virtual data room containing analytical materials and an information memorandum about MobiUz’s operations.

By the set deadline of 15 October 2025, ten contenders submitted their non-binding price offers. Following this stage, individual notifications will be sent to the participants, and those who pass the evaluation will receive instructions for preparing binding offers (BO).

According to the procedure, the submission of final offers will conclude on 19 December 2025. By that date, participants must make a guarantee payment of at least 1% of their bid amount through the E-auksion platform.

The winner of the process will have their guarantee deposit transferred to the Privatization Fund as part of the payment for the asset. The Agency for State Assets expressed gratitude to all companies that have shown interest in acquiring MobiUz.

Uzbekistan expects to attract around US$300 million from the privatization of the mobile operator MobiUz.

According to Fitch Solutions (BMI), as of the end of 2024, there were about 35.6 million mobile subscribers in the country. The main competitors of MobiUz in the market are Uztelecom, Coscom (Ucell), and Unitel (Beeline), owned by the Dubai-registered company Veon Ltd.

According to the Ministry of Digital Technologies, as of July 2025, MobiUz’s subscriber base exceeded 8 million users. In 2024, the operator’s revenue amounted to 164 million US dollars, with EBITDA reaching 41 million US dollars.

Veon declined to comment on possible participation in the privatization but emphasized that Uzbekistan remains a “key market” for the company with a long-term presence strategy.

MobiUz was founded in 2014 as a joint venture between MTS and the Center for Radio Communication, Broadcasting, and Television (CRRT). In 2016, MTS exited the project, and since 2018, the state fund “Digital Trust” has been the company’s sole owner.

The UMS brand was rebranded as MobiUz in December 2019. The issue of privatization has been under discussion since 2020, but the exact timeline was determined only by a presidential decree on 21 April 2025.