Photo: company.mobi.uz
Uzbekistan’s government plans to raise $300 million through the sale of Universal Mobile Systems, the state-owned company that operates the mobile carrier Mobiuz. The estimated value of the deal was reported by Bloomberg, citing sources familiar with the matter.
According to the report, the government is open to selling Mobiuz—currently the country’s fourth-largest mobile operator—to a market competitor, as it supports the idea of merging the company with existing brands.
Bloomberg sources say other investors have also expressed interest in acquiring the asset, including business figures from Qatar, Saudi Arabia, Azerbaijan, and several European countries.
Data from analysts at a Fitch Solutions unit indicate that, as of the end of last year, Uzbekistan had 35.6 million mobile subscribers, with Mobiuz holding around 21 percent of the market.
In mid-June, the Uzbek government announced the start of an open international process to privatize 100 percent of the state’s stake in Universal Mobile Systems. Rothschild & Co is serving as strategic and financial advisor for the deal, KPMG is conducting tax and legal due diligence, and Deloitte is providing an independent valuation. Bids will be accepted through August 1.
Universal Mobile Systems LLC (trading as Mobiuz) is an Uzbek company providing cellular and mobile internet services. Last year, it reported net revenue exceeding 2 trillion soums ($163 million). The operator currently serves more than 7.8 million subscribers.
