Uzbekistan plans to sell Mobiuz for $300 million

Uzbekistan is planning to raise $300 million by selling its mobile operator Mobiuz, Kursiv.media reports, citing sources familiar with the deal via Bloomberg. Authorities hope to attract investors from Qatar, Saudi Arabia, Azerbaijan, and Europe.

Mobiuz ranks fourth in Uzbekistan’s mobile telecom market. According to analytics firm BMI, by the end of 2024 the operator held a 20.9% market share, with a national subscriber base of 35.6 million people. Last year, Mobiuz generated $164 million in revenue and reported an EBITDA of $41 million.

The sale of 100% of Mobiuz is part of a broad privatization program launched by President Shavkat Mirziyoyev. Uzbekistan aims to raise at least 10 trillion soums ($786 million) by selling stakes in 29 major companies, as part of efforts to reduce the state’s role in the economy and attract more foreign investment.

The tender was launched in June 2025. Interested investors must submit letters of interest by August 1. Rothschild & Co is acting as the deal advisor.

Telecom group Veon stated that it regularly explores business opportunities in Uzbekistan, but did not confirm its participation in the tender.