Uzbekistan has completed the sale of a 100% state stake in Universal Mobile Systems LLC, which operates the cellular carrier Mobiuz. A consortium of investors led by the US company McKim and Company won the tender, with the deal valued at $351 million, according to the press service of the State Assets Management Agency (SAMA) of the Central Asian republic.
As the agency clarified, the consortium that prevailed was led by McKim and Company and included an industry technology partner, JVR Enterprises, also based in the United States.
The new owners of the Uzbek asset have pledged to invest up to $500 million in developing Mobiuz's telecommunications infrastructure.
To close the deal, the parties must now secure the necessary approvals from regulatory authorities and complete the standard corporate and legal procedures.
SAMA noted that reputable international firms took part in the privatization of the state stake in the Uzbek telecom operator. The investment bank Rothschild & Co served as strategic consultant, KPMG, a member of the «Big Four,» acted as financial advisor, and Deloitte carried out the independent asset valuation.
More than 15 investors from the US, Japan, the Persian Gulf states, Europe, and the South Caucasus submitted bids, most of them foreign companies. The bidders received comprehensive financial and legal materials prepared by consultants in line with international standards. Six binding offers to acquire Mobiuz were also received.
The process was designed to attract the most competitive proposals from a broad pool of investors, with an option to improve their positions in the final stage, SAMA added.
The privatization of Mobiuz was announced in the summer of last year, and it soon emerged that the Uzbek authorities aimed to raise at least $300 million from the sale.
Universal Mobile Systems LLC (trademark Mobiuz) provides cellular and mobile internet services. In 2025, the company posted revenue of about 2.5 trillion soums ($209.5 million) and a net profit of 173.6 billion soums ($14.5 million). The operator has more than 8 million subscribers.
