Tashkent, Uzbekistan (UzDaily.com) — The State Assets Management Agency of Uzbekistan has officially launched the privatization process of Universal Mobile Systems (UMS), better known under its brand name Mobiuz.

The government intends to fully divest its ownership by selling 100% of the company’s equity. Investment bank Rothschild & Co has been appointed as the lead strategic and financial advisor for the transaction, while KPMG will serve as an additional financial consultant.

The privatization will proceed in three stages: submission of Expressions of Interest (EOI), followed by Non-Binding Offers (NBO), and finally Binding Offers (BO). Both domestic and international investors are eligible to participate.

To take part in the first stage, applicants must submit a written EOI in Russian, Uzbek, or English, along with company details, shareholder and beneficiary information, and audited financial statements for the past three years. The deadline for submissions is 18:00 (Tashkent time) on 1 August 2025.

Each application will be assessed based on compliance with the eligibility criteria, including financial capacity to acquire the asset. Applicants under sanctions from the U.S., the European Union, or major international financial institutions will not be allowed to participate.

Shortlisted applicants will receive a process letter outlining the next steps. Participants moving to the second stage must sign a Non-Disclosure Agreement (NDA) to access more detailed information about the asset.

During the final stage, candidates will be granted access to KPMG’s comprehensive financial, tax, and legal due diligence reports on Mobiuz, as well as the opportunity to visit its operational facilities. A bid bond equal to at least 1% of the offered price must accompany the final binding offer.

Universal Mobile Systems provides GSM, UMTS, and 4G LTE mobile and internet services. In 2024, the company reported net revenue of 2.086 trillion Uzbek soums, with a subscriber base of 7.8 million users.

UMS was originally established as a joint venture between Uzbekistan and Russian telecom operator MTS. MTS exited the venture in 2016. In 2018, the company came under the control of the state-owned Digital Trust Fund, and following the fund’s dissolution in 2021, it was transferred to the Ministry of Digital Technologies.

The privatization of UMS was part of a broader state program approved by President Shavkat Mirziyoyev in spring 2022. The State Assets Management Agency subsequently engaged advisors to prepare the sale.

In April of this year, the President signed a new decree authorizing the privatization of several state-owned assets, including UMS. Shortly before the announcement, Akmalxon Ortikov, head of the agency, confirmed the operator would soon be put up for international public auction.