2 days ago
Uzbekistan to privatise mobile operator UMS
TASHKENT - Uzbekistan has begun the privatisation of mobile operator Universal Mobile Systems (UMS), the government of the Central Asian country said on Tuesday.
The government plans to sell 100% of the company's equity to domestic or international investors, and has tapped Rothschild & Co to serve as lead consultant on the transaction. KPMG will act as an additional financial consultant.
UMS, also known by its brand name Mobiuz, provides mobile and internet services to more than 7.8 million customers in Uzbekistan, which has a population of roughly 37 million people. The company reported 2024 net revenue of 2.08 trillion Uzbek soms ($164 million).
UMS was originally established as a joint venture between Uzbekistan and Russian telecom operator MTS before MTS sold its stake to the Uzbek government in 2016.
Applications for bids will be accepted until August 1, Uzbekistan's state asset management agency said.
(Reporting by Muhammadsharif Mamatkulov in Tashkent; Writing by Lucy Papachristou in London; Editing by Kirsten Donovan)
