Mobiuz up for sale as Uzbekistan moves to privatize major state assets

According to the Agency for State Asset Management, the process is open to both local and foreign investors. However, entities under sanctions or linked to sanctioned individuals or companies are barred from participating.

The international investment bank Rothschild & Co has been appointed as the lead strategic and financial advisor for the transaction. KPMG is handling financial, tax, and legal due diligence, while Deloitte is acting as the independent valuation expert.

As of the end of 2024, Mobiuz recorded net revenue of 2.086 trillion UZS and had a subscriber base of 7.8 million users.

The privatization will be conducted through a competitive, three-stage process:

1. Expression of Interest (EOI)
2. Non-binding offers
3. Binding offers

Interested parties must submit their Expressions of Interest by 6:00 PM Tashkent time on August 1, 2025.

Applicants will be screened based on the following eligibility criteria:

• Sufficient financial capacity to acquire the asset
• Absence of legal restrictions such as ongoing administrative, arbitration, or other judicial proceedings that could hinder participation
• Compliance with Uzbekistan’s law on combating money laundering, terrorism financing, and weapons proliferation
• Neither the applicant nor its shareholders/participants may be a state-owned entity
• No affiliation with individuals or organizations subject to sanctions by the EU, U.S., or major financial institutions like the World Bank, EBRD, and ADB
• The applicant and its related parties must not be under investigation or involved in proceedings by any of the aforementioned sanctioning bodies at the time of application
• No involvement (direct or through subsidiaries) in activities that violate sanctions regimes
• Major funders or creditors of the applicant must not be sanctioned individuals or entities, or banks/financial institutions owned or controlled by them

It is worth noting that Mobiuz is one of several major companies listed for privatization under a presidential decree signed in April. Other notable firms include UzAuto Motors, Uzbekistan GTL, and Uzmetkombinat.